One of the challenges facing the banking industry in Nigeria is
Ensuring technological security
Providing employment
Providing loans for investment
Creating more money
Correct answer is C
Some challenges faced by nigerian banks;
An inflation that co-exists with high rate of unemployment is
Hyperinflation
Stagflation
Demand-pull inflation
Cost-push inflation
Correct answer is B
Stagflation is a condition of slow economic growth and relatively high unemployment, or economic stagnation, accompanied by rising prices, or inflation. It can also be defined as inflation and a decline in gross domestic product (GDP).
The precautionary demand for money is determined by
The rate of interest
The level of savings
The level of income
General price level
Correct answer is A
The precautionary demand is dependent on the size of income, the availability of credit, and the rate of interest.
If MPC = 2/3 and investment is N100 million, the level of national income is
N100 million
N10 million
N303 million
N300 million
Correct answer is D
No explanation has been provided for this answer.
Which of the following can be used to measure the Gross National product in an open economy?
C+I+G+(X+M)
C+I+G+X
C+I+G
C+I+G+(X-M)
Correct answer is D
The formula to calculate the components of GNP is Y = C + I + G + X + Z. That stands for
GNP = Consumption + Investment + Government + X (net exports, or imports - exports) - Z (net income earned by domestic residents from overseas investments - net income earned by foreign residents from domestic investments.)