ABU Economics 2016/2017 Past Questions

Practice each question, then open it to see the full details.

A major liability of a commercial bank arise from

A.Customers deposit
B.loans and advances
C.overdraft
D.staff allowances

Retailers in an economy perform the function of

A.production
B.exchange
C.distribution
D.investment

In a sole proprietorship the decisions are made by the

A.government
B.board of directors
C.owner
D.shareholder

The meaning of wage-price spirals is

A.demand pull and cost push inflation pulling each other in different
B.demand pull and cost push intensifying each other
C.that wages and price are rising at a proportional rate
D.that demand pull and cost push inflation increase employment

Which of the following enterprise does not pursue the sole objective of the profit maximization

A.roads Nig Ltd
B.Union bank of Nigeria Ltd
C.power holding & company of Nigeria
D.Kingsway Nigeria Ltd

Palm oil industry is located in Edo state because the state

A.imports raw materials for oil industry
B.is a palm tree growing area
C.government does not engage land for the other crops
D.land is suitable for oil

Disequilibrum in the balance of payments means

A.imports raw material for oil industry
B.is a palm tree growing area
C.government does not engage land for other crops
D.land is suitable

Full employment is a situation in which

A.every adult is employed
B.all adult who can work employed
C.only the disable are not allowed
D.all those who are able and eligible to work can find employment

PHCN as a public corporation

A.duopoly
B.a power-generating industry in Nigeria
C.a monopoly
D.a monopolistic competitive industry

Demand for a factor of production is

A.a composite demand
B.a joint demand
C.a derived demand
D.an elasticity demand