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Economics Past Questions

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4126

Economics is often described as a social science because?

  • A. laboratory experiments are performed
  • B. It makes use of controlled experiments
  • C. It uses scientific methods to explain an observed phenomenon and predict future events
  • D. It makes use of fieldwork
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4127

Which of the following is an example of an invisible item on the balance of payments account

  • A. shipping and aviation
  • B. exports and imports
  • C. merchandise
  • D. Bullion
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4128

A major factor affecting the value of money is the?

  • A. price level
  • B. banking habits
  • C. transaction motive
  • D. divisible nature of money
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4129

The Nigerian bank for commerce and industry is?

  • A. a commercial bank
  • B. a development bank
  • C. an industrial bank
  • D. a merchant bank
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4130

To control inflation, the monetary authorities of a country can

  • A. reduce taxes
  • B. advise the government to increase its expenditure
  • C. engage in expansive monetary policies
  • D. engage in restrictive monetary policies
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