O level north west regional mock gce 2022 economics 1
O level north west regional mock gce 2022 economics 1
1. When the external value of a countr) s
officially increased, it is known as.
A) revaluation of the currency .
B) depreciation of the currency .
C) devaluation of the currency –
A) 0.13.
B) 1.5.
C) 0.05.
D) 0.5.
D) appreciation of the currency. —
2. Movements along the same demand curve are
solely by:
A) changes in disposable incomes.
B) population changes.
C) changes in the price of the good .
D) changes in prices of other commodities^
3. If in a given population of 8 million inhabitants, 4 is
made of the working population, then the epen e y
ratio is:
caused
11. Using the output approach, what is subtracted from
Gross National Product to obtain National Income?
A) Capital consumption.
: • B) Subsidies.-‘*’. :• r rr – *
C) Net property income from abroad.
D) Indirect taxes.
12. In order to reduce the supply of money in circulation,
the central bank should:
A) increase the cash ratio.
B) buy securities in the open market.
C) devalue the currency.
D) reduce the minimum lending rate.
13. Which of the following is the normal channel by which
commodities reach the final consumers?
A) Manufacturer – retailer- wholesaler- consumer.
B) Manufacturer- wholesaler- retailer – consumer.
C) Retailer- manufacturer- wholesaler – consumer.
D) Manufacturer-sales agent- wholesaler- consumer.
14. Which of the following refers to the complete ban on
goods entering a country?
A) Tariffs.
B) Exchange controls.
C) Quotas.
D) Embargoes. • «
A) 2:1.
B) 3:1.
C) 4:1.
D) 8:1.
4. A giffen good is one for which quantity demanded
increases as:
A) prices of close substitutes increase .
B) producers increase supply.
C) price of the good increases.
D) consumer incomes increase.
5. Tablel shows the balance sheet of a commercial bank.
Table 1
Liabilities(000 )FCFA Assets (OOO)FCFA
Deposits 1000 Coins 50 .
Bank notes 150
Treasury bills 230
Investments 270
15. Assume that the cash ratio of a bank is 40% and its total
deposits are 2,000,000 FCFA. Calculate the amount
this bank can keep as cash.
A) 2,000,000 FCFA.
B) 1,200,000 FCFA.
C) 1,500,000FCFA.
D) 800,000 FCFA.
Advances 300
1000 1000
What is the of value total liquid assets of this bank?
A) 200,000 FCFA.
B) 700,000 FCFA.
C) 50,000 FCFA.
D) 430,000 FCFA.
– 16. The yearly output of a country produced using only its
economic resources is known as:
A) gross investment.
B) net national output.
C) gross domestic product.
D) gross national product.. ___
17. The use of taxes and government expenditure to reduce
inflation is termed:
6. In Economics, “scarce means” refer to:
A) goods and services.
B) human wants.
C) human resources.
D) economic resources.
7. An example of a positive check proposed by Malthus to
control population growth is:
A) famine.
B) family planning.
C) late marriages.
D) moral restraint.
8. Which of the following may be considered as a cost of
economic growth?
.A) Increase in human capital.
B) Increase in social cost.
C) Increase in population.
D) Increase in leisure
9. The main aim of division of labour is to:
A) save time .
B) employ more workers.
C) increase output
D) acquire more skills .
A) fiscal policy.
B) monetary policy.
• • C) regional policy.
•• D) physical policy
18. Which of the following investments in a business does
not earn dividends?
A) Preference shares.
B) Debentures.
C) Cumulative preference shares.
D) Deferred ordinary
