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ECO122 TMA3 Questions and Answers

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1).In all economies Human Development Index is used to measure the rate of_____ in an economy
(A)Growth
(B)Strength
(C)Development
(D)Power

Ans: Development
2).Speculative demand for money is a function of ____
(A)Income
(B)Exchange rate
(C)Interest rate
(D)None of the options

Ans: Interest rate
3).Deposit money bank in Nigeria was first established in what year?
(A)1891
(B)1901
(C)1904
(D)1871

Ans: 1891

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4).A public good is associated with __
(A)Free rider
(B)Free consumption
(C)Economy of scale
(D)Diseconomy of scale

Ans: Free rider
5).In the consumption function C = a + bYd; C is referred to as ____
(A)Marginal consumption
(B)Total consumption
(C)Induced consumption
(D)Autonomous consumption

Ans: Total consumption
6).GDP - Depreciation =
(A)GNP
(B)NI
(C)NNP
(D)PI

Ans: NNP
7).Mathematically, MPC + MPS = ____
(A)2
(B)-1
(C)0.5
(D)1

Ans: 1

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8).Licensed bank in Nigeria before independence are referred to as _
(A)Pre-independence banks
(B)Second genration banks
(C)First generation banks
(D)None of the options

Ans: First generation banks
9).A situation of high rate of inflation and unemployment with slow economic growth is referred to as ___
(A)Inflation
(B)Deflation
(C)Stagflation
(D)None of the options

Ans: Stagflation
10).The following are functions of money except ___
(A)Standard for deferred payment
(B)Acceptance of deposit
(C)Store of value
(D)Medium of exchange

Ans: Acceptance of deposit

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