Which of these best explains Malthusians theory of population?

A. Increase in population cause hunger and death

B. The population increase faster than food supply

C. The population grows at arithmetic progression while food production grows at geometric progression

D. People could be sent to ‘No man’s land’ when the population increases

E. People should produce as many children as they could to because passion cannot be controlled

Which of the following are the most liquid assets to a commercial bank?

A. Money at call and short notice

B. Treasury Bills

C. Commercial Bills

D. Stock and Shares

E. Cash

Which of the following statements is true about terms of trade?

A. Terms of trade shows the difference between the values of export and imports

B. Terms of trade indicate the rate at which exports exchange for imports

C. It is the ration of price index of exports to imports

D. It is usually expressed as percentage

E. A rise in the price of export relative to imports is an improvement

Which of these does not relate to the law of comparative advantage?

A. The law of comparative advantage was propounded by David Ricardo

B. The law stresses the importance of relative efficiency

C. In order to specialize, a country must have absolute advantage

D. The law is based on opportunity cost principle

E. The principle if followed, should increase total world output

A condition which adversely affects expansion of production is

A. Effective management

B. Limited size of the market

C. Availability of funds

D. Increased profit prospects

E. Increasing returns to scale

International trade and domestic trade are similar in all aspects except that

A. Transportation by land, water and air is involved

B. Goods are exchanged

C. Services are exchanged

D. The same currency is used as the medium of exchange

E. Specialization and increased consumption is encouraged

The drawer of a cheque is the

A. Person who is to be paid the sum of money as written on the cheque

B. Person who takes the cheque to the bank

C. Bank on which the cheque is drawn

D. Person who writes out the cheque

E. Bank official who certifies the payment

Which of the following is not an item of capital expenditure?

A. Building of roads and bridges

B. Supply of electricity

C. Building of damns

D. Building of habours

E. Payment of interest on loans

Which of the following roles is being played by the Organization of Petroleum Exporting Countries (OPEC) with regards to Nigeria’s crude oil?

A. Exploiting

B. Exploring

C. Refining

D. Marketing

E. Exporting

The coefficient of price elasticity of demand is zero when demand is

A. Fairly elastic

B. Perfectly inelastic

C. Fairly inelastic

D. Unitary elastic

E. Perfectly elastic