Economics Past Questions and Answers

The sum of N80,000 is deposited in a bank and the cash ratio of the banking system is 10%. calculate the sum of money the bank can create from the deposit?

A N 100 000
B N 800 000
C N 1000 000
D N 8000 000

Question 1172:

Economic development is distinguishable from economic growth because the former?

A Is not concerned with growth parameters
B Affects only the poor people
C Also includes an efficient distribution of economic growth
D Is an increase in the production of goods and services

Question 1173:

Which of the following can be considered as being outside the objectives of public finance?

A The allocation of resources to various sectors of the economy
B The objective of even distribution of income and wealth
C The achievement of economic stability
D The deregulation of the economy

Question 1174:

The joint ventures operating in the Nigerian oil industry are between?

A The NNPC and independent marketers
B The NNPC and multinational marketers
C The NNPC and producer marketers
D Multinational corperations and independent marketers

Question 1175:

Which of the following are the major disadvantage of direct system of taxation?i, Disincentive of hard work
ii,Difficulties in assessment and collection
iii, imperfection in tax assessment.

A I and ii
B I and iii
C Ii and iii
D I, ii and iii