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Economics Past Questions and Answers

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Economics Questions

Question 1011:

Which of the following will be the effect of allowing only economic factors to dedicate the location of industries in Nigeria?

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A A more even development of the different parts of the country will be assured
B There will be an unbalanced spread in the distribution of industries
C The less developed parts of the country will be able to attract more industries
D Only the government will be able to finance the establishment of industries

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Question 1012:

If the same basket of goods which cost N12.00 in 1985 cost N15.00 in 1987, price index for 1987 is?

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A 25
B 80
C 100
D 125

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Question 1013:

Which of the following is likely to be inflationary?

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A Tax increase
B Increase in unemployment
C Budget surplus
D Wages increase

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Question 1014:

The basic purpose of imposing legal reserve requirements on commercial bank is to?

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A Assure the profitability of commercial banks
B Provide a device through which credit creation by banks can be controlled
C Provide a proper ratio between earning and non-earning bank assets
D Provide the Central Bank with working capital

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Question 1015:

Find the total credit that the banking system can create if primary deposit is just N100.00 while the cash ratio is 20%

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A 700.00
B 600.00
C 500.00
D 400.00

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