September, 2022
The average standards of living in a country is best determined by ____________.
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September, 2022 ATS Part I Economics Past Questions
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September, 2022
____________ is the last member to join ECOWAS.
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September, 2022
The current account component of Balance of Payment (BOP) is subdivided into merchandise imports and exports, services imports and exports and _____________.
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September, 2022
______________ is an account that summarises a country’s total receipts and total payments from international economic transactions within a specific period, usually one year.
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September, 2022
The type of unemployment informed by decision of individual to switch to another job is known as ____________.
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September, 2022
The tax levied specifically on the profits of oil companies is called _______________.
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September, 2022
The policy of raising taxes and reducing government expenditure to reduce disposable income and aggregate demand is known as _________
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September, 2022
A practice whereby two or more lending institutions agree to finance large projects is called ____________.
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September, 2022
If output of goods and services (Q) is Le1600billion, money supply is Le500billion, and the velocity of money is given as 4. Determine the price level in the economy.
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September, 2022
Given the consumption in an economy as: C = 100 + 0.75Y and Y = 1500. How much is saved?
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September, 2022
The flow of receipts and payments between the major economic units (households and firms) in an economy is usually demonstrated by a diagram known as __________.
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September, 2022
A market structure where all firms are price takers is called _____________.
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September, 2022
The ratio of change in total revenue to change in total output is ____________.
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September, 2022
An economic law which states that as quantity of one input increases with the quantities of all other inputs remaining constant, output increases but at a decreasing rate is ___________.
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September, 2022
The variable cost per unit of output produced is ___________.
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September, 2022
An operating production period in which some inputs are fixed and others vary is called ____________.
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September, 2022
__________ is the rate at which the consumer is willing to substitute one good for the other while keeping her level of satisfaction constant.
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September, 2022
If an increase in a unit price of a good from N30.00 to N50.00 causes a decrease in its quantity demanded from 200 to 150 units, then the coefficient of the price elasticity of demand is ___________.
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September, 2022
The desire for a good that is backed up with the ability to pay for the good at a particular price is called ___________.
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September, 2022
The economic system where means of production is entirely owned by the government is referred to as ____________.
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