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Economics Past Questions

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11
Price control cannot work in Nigeria because
  • A. the population is too large
  • B. the policemen hate to arrest people
  • C. while it is fairly easy to control producers and importing firms, smaller distributors are too many to be controlled
  • D. control cannot work under military rule
  • E. too many things are produced in the country
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12
The foreign exchange market is a market where
  • A. graded commoditties like wheat, flour, etc are sold and bought
  • B. currencies are sold and bought
  • C. treasury bills are sold and bought
  • D. government bonds are sold and bought
  • E. treasury certificates are sold
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13
Which of the following financial assets consist the lowest rate of interest in Nigeria?
  • A. commercial bills
  • B. call money
  • C. treasury bills
  • D. development loan stocks
  • E. deposits with the federal savings bank
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14
The effect of the demand for product A caused by a change in the price of a product B is called?
  • A. cross-elasticity of demand
  • B. elasticity of supply
  • C. competitive demand
  • D. composite demand
  • E. joint demand
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15
Which of the following can be regarded as a liability of a commercial bank?
  • A. advances
  • B. deposits
  • C. treasury bills
  • D. overdrafts
  • E. cash
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