Economics is the study of how societies allocate limited resources to meet the unlimited needs and wants of individuals. It focuses on the production of goods and services, economic growth, and various complex issues that are important to society.
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Question 481:
A country with over-valued currency will
Options:
A) expect balance of payments surplus
B) have increased demand for the exports
C) increase her foreign reserve
D) decrease her foreign reserve
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The correct answer is D .
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Question 482: If an economy grows at an annual rate of 6%, of which is deemed to be due to improvement in the productivity of labour and capital combined, the remaining 2% is generally attributed to
Options:
A) technical progress
B) size of the population
C) amount of natural resources
D) the environment
E) the quality of human resources
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The correct answer is C .
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Question 483: The economic policy of deregulation is aimed at encouraging?
Options:
A) a monopolistic market structure
B) a duopolistic market structure
C) a competitive market structure
D) an oligopolistic market structure
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The correct answer is C .
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Question 484: The difference between birth and death rates of a given population is referred to as the
Options:
A) mortality rate
B) fertility rate
C) natural growth rate
D) linear growth rate
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The correct answer is C .
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Question 485:
A firm that closes down will still incur
Options:
A) variable cost
B) fixed cost
C) total cost
D) marginal cost
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The correct answer is B .
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Question 486:
One of the techniques of monetary control used by the central bank of Nigeria is
Options:
A) selective credit control
B) budget deficit
C) foreign exchange control
D) monitoring the general price level
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The correct answer is C .
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Question 487: The problems of conducting census include?
Options:
A) high rate of rural-urban migration
B) poor geographical distribution of population
C) high birth rate in tthe coutry
D) poor town planning in urban areas
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The correct answer is D .
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Question 488: A commodity will be demanded only if
Options:
A) consumers income increases
B) it has no close substitutes
C) the price is low
D) it has utility
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The correct answer is D .
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Question 489: In a regulated market, price is determined by
Options:
A) consumers
B) producers
C) auction
D) government
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The correct answer is D .
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Question 490: Tariff on imports are meant to?
Options:
A) prevent a foreign goods
B) discourage exports
C) encourage exports
D) increase the level of external dependency
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The correct answer is A .