Economics Past Questions

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An increase in liquid reserve requirements by the central bank of Nigeria will result in
  • A. a reduction in commercial banks' excess reserves
  • B. more commercial bank loan to members of the public
  • C. an increase in commercial banks excess reserves
  • D. no change in commercial banks excess reserves
  • E. a reduction in central banks gold reserves
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A distinguishing characteristics of a consumers' cooperative is the fact that
  • A. the customers are the owners
  • B. the customers are the workers
  • C. the customers are the managers
  • D. the customers are low income people
  • E. the customers are high income people
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Disposable income is the same thing as
  • A. personal income minus personal savings
  • B. personal inome minus taxes
  • C. national income minus depriciation
  • D. exports minus imports
  • E. savings plus investments
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Marginal cost is
  • A. Lowest cost of producing goods
  • B. The cost of production of the most efficient firm in the industry
  • C. Cost of production of the most inefficient firm in the industry
  • D. The cost of production of the last or extra unit of goods produced by a firm
  • E. The cost of production at which the minimum profit is obtained by a firm
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Which of the following is not a form of business organization
  • A. A sole proprietorship
  • B. Cartel
  • C. Partnership
  • D. Joint stock
  • E. Cooperative society
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