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NDA – Economics – 2002

Challengemoi - WAEC Past Questions and Answers

This quiz consist of over 50 NDA Economics past questions and answers. The answers are well explained. Retake the quiz as many times as you feel the need. Success!

This is a timed quiz. You will be given 1200 seconds to answer all questions. Are you ready?

1200

Given the following formula, obtain the velocity of money: MV = PT; where M is money, V is velocity of money, P is price and VT is transaction:

Correct! Wrong!

Which Of the following is a liability of commercial banks?

Correct! Wrong!

Statistics is used to interpret

Correct! Wrong!

Equilibrium is that level at which

Correct! Wrong!

There is unlikely to be a gain from international trade if:-

Correct! Wrong!

Economics is science which deals with

Correct! Wrong!

All except one is not an economic indicator

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The basic problems of economics include

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If planned savings exceeds planned investment the result will be

Correct! Wrong!

By standard of living, we mean:

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In calculating the average age of cadets in the Nigerian Defence Academy , we make use of :

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The terms of trade is the name given to the

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International trade is regarded as being distinct from interregional trade because:

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Mean, median, mode, variance and standard variation belong to the domain of

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The basic economic problems of the society are

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In a closed economy without government sector the national income is same as :

Correct! Wrong!

Which is the least liquid of the following assets of a commercial bank?

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The concept of utility is highly emphasized in the theory of

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One of the functions of the Central Bank of Nigeria(CBN) is to:

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The importance of bar chart in statistics is that

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The equilibrium market price is determined at a point where:

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Price can be defined as

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The concept of opportunity cost is important because

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One reason why sometimes total consumption equals total income is that:

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In economics, the concept of utility means:

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The Federal Mortgage Bank of Nigeria (FMBN) was established in

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Which of the following tends most to break the link between international prices?

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The need to study Economics arose because of:

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The difference between Gross Domestic Product (GDP) and Gross National Product (GNP). That:

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Full equilibrium requires that

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In its trade with the rest of the world a country will ten 'to specialize in the production of goods in

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One of the following is a capital market instrument in Nigeria

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Elasticity of demand can be defined as

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Economies deals with excepts One of the following

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The multiplier is the factor by which

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The velocity of money is most affected in the short run by:

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Commercial banks rank the largest type or financial institutions. The second largest financial institution consists of:-

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Gross National Product at factor cost plus taxes less subsidies on expenditure is equal to:

Correct! Wrong!

NDA - Economics - 2002
You're a champion
You scored far beyond average
Congratulations!
You performed averagely. None the less, you can do better.
Good! Though good is not good enough
You can do better. Take this course as many times as possible to get used to the questions.

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