OAU POST UTME PRACTICE: Economics Quiz 1

Which of the following is counted as part of money supply?

What are the three main functions of money?

Who among the following believed that economy should not be left uncontrolled?

Which of the following is not included in the labour force?

Which of the following cannot be used to measure National income?

When the MPC is 0.8 and the APC is 0.95 the MPS is
A.

The table below shows the index of retail prices in a country, calculated at the end of each year Which of the four years 1985, 1986, 1987 and 1988 had the highest rate of inflation?

Which of the following is a “loser” from unexpected inflation?

Which of the following is the action taken by the government or monetary authorities to control and regulate demand and supply of money with the hope of controlling the economy?

What does liquidity mean in economics?

If in 1972, the total supply of money in Nigeria was N1,000 million and on average each unit of money changes hands 5 times each year, then total spending in 1972 was

An advocate of the classical model of theeconomy would claim that unemployment is created when ______ is above its equilibrium level in the ____

Suppose the income changes from N10000 to N15000 and consumption changes from 10 units to 20 units, what is the multiplier?

Which of the following would not cause consumption to fall?
C.

The quantity theory of money says that changes in ____ lead to equivalent changes in ___ but have as effect on ____

What is the economic term for the rate at which money changes hands

When government sells securities

Which of the following attaches more importance to the exportation of goods and discourages imports?

Ceteris paribus, which of the following is likely to increase the number of people in employment in a country?

Disposable income is equal to:

Which of the following is considered to be studied in macroeconomic studies?

Which of the following is the type of unemployment associated with lack of information

Which ONE of the following people is likely to gain from inflation?

If somebody is prepared to work at the going wage rate but cannot find work then they are victims of

The observation that a community’s decision to save more may actually result in less saving is called

Frictional unemployment cannot result from which of the following

Which of the following is not used by Central bank to control commercial banks?

Which of the following is a restrictive policy measure?

Banks create money by

Which of the following is correct?