Tüm alıştırma soruları

Ade and Sons Enterprises operates two departments, Department X and Department Y, which occupy floor areas of $1,200\text{ m}^2$ and $800\text{ m}^2$ respectively. If the total rent expense incurred by the business for the year is ₦$250,000$, what is the amount of rent to be apportioned to Department X?

The following macroeconomic data (in billions of Naira) were released for the Republic of Veridia for a given fiscal year:

- Personal Consumption Expenditure ($C$): $\text{₦}520\text{ billion}$
- Gross Domestic Fixed Capital Formation: $\text{₦}180\text{ billion}$
- Value of Physical Change in Stocks: $\text{₦}25\text{ billion}$
- Government Final Consumption Expenditure ($G$): $\text{₦}210\text{ billion}$
- Exports ($X$): $\text{₦}95\text{ billion}$
- Imports ($M$): $\text{₦}115\text{ billion}$
- Net Factor Income from Abroad: $\text{₦}35\text{ billion}$

Using the expenditure method of national income measurement, what is the value of the Gross National Product (GNP) at market prices in billions of Naira?

In a regional commodity market, the monthly demand function for cocoa beans is given by $Q_d = 250 - 4P$ and the supply function is given by $Q_s = -50 + 6P$, where $P$ represents the price per bag in thousands of Naira (₦), $Q_d$ is the quantity demanded in bags, and $Q_s$ is the quantity supplied in bags. What is the equilibrium quantity of cocoa beans traded in this market?

The reported mean monthly wage of $50$ employees in a manufacturing firm was recorded as $42$ (in thousands of Naira, $\text{₦'000}$). During an internal audit, two transcription errors were discovered: a wage of $\text{₦}64,000$ was incorrectly recorded as $\text{₦}46,000$, and a wage of $\text{₦}28,000$ was incorrectly recorded as $\text{₦}82,000$. Additionally, $10$ new workers were recruited at an average monthly wage of $\text{₦}57,000$ (recorded as $57$ in $\text{₦'000}$). What is the corrected mean monthly wage (in $\text{₦'000}$) for the entire workforce of $60$ employees?

In a commercial sector of an economy, the total stock of money in circulation ($M$) is $\text{N}12,000,000$ and the velocity of circulation ($V$) is $5$. If the total physical volume of transactions ($T$) is $1,500,000$ units, what is the general price level ($P$) according to Fisher's Quantity Theory of Money?

Country X recorded the following international transaction figures for a given financial year:

Calculate the magnitude of Country X's overall balance of payments deficit in millions of US dollars.

The mean daily production cost of five small poultry farms in Ogun State is $\text{₦}45,000$. If the daily production costs of four of the farms are $\text{₦}38,000$, $\text{₦}42,000$, $\text{₦}46,000$, and $\text{₦}50,000$, what is the daily production cost (in $\text{₦}$) of the fifth farm?

In Year 1, Country Y recorded a Nominal GDP of $\text{₦}3.2\text{ trillion}$. By Year 2, its Nominal GDP increased by $25\%$, while its GDP deflator stood at $125$ (with base year price index = $100$). If the Real Per Capita Income of Country Y in Year 2 was $\text{₦}64,000$, what was the total population of Country Y in Year 2 (in millions)?

A consumer's inverse demand function for bags of fertilizer in an agricultural zone is given by the equation $P = 200 - 10Q$, where $P$ is the price per bag in Naira ($\text{₦}$) and $Q$ is the quantity of bags demanded. If the prevailing market price of fertilizer is $\text{₦}80$ per bag, what is the consumer surplus in Naira ($\text{₦}$)?

In an economy, the consumption function is given as $C = ₦50\text{ billion} + 0.8 Y_d$, where $Y_d$ represents disposable income. The government levies a flat proportional income tax rate of $25\%$ ($t = 0.25$) on total national income ($Y$). If the economy is currently experiencing a recessionary output gap of $₦200\text{ billion}$, calculate the required increase in government expenditure ($\Delta G$), in billions of Naira, to achieve full-employment equilibrium.

In 2024, Country Alpha recorded a Nominal Gross Domestic Product (GDP) of $\text{₦}1.5\text{ trillion}$ with a GDP deflator of $120$. If the total population of Country Alpha in 2024 was $25\text{ million}$, what was the Real Per Capita Income of the country in Naira?

In a foreign exchange market operating under a flexible exchange rate system, the daily quantity demanded of Euros ($\text{EUR}$) in millions is given by $Q_d = 500 - 0.5E$, while the daily quantity supplied of Euros in millions is given by $Q_s = 100 + 0.3E$, where $E$ represents the exchange rate of local currency ($\text{LCU}$) per Euro. What is the equilibrium exchange rate ($E$) in local currency per Euro?

A competitive market for yam tubers consists of 40 identical buyers and 10 identical sellers. The demand function for each individual buyer is given by $q_d = 15 - 0.5P$, and the supply function for each individual seller is given by $q_s = -4 + 2P$, where $P$ represents the price per tuber in Naira ($\text{N}$). What is the market equilibrium quantity of yam tubers (in units)?

A telecommunications equipment assembly firm expands its operational scale in the long run by increasing all of its production inputs by $50\%$. Consequently, its weekly output increases from $1,200$ units to $1,920$ units. What is the percentage increase in total output achieved by the firm?

In Year 1, Country Z recorded a Nominal GDP of $\text{₦}600\text{ billion}$ with a base price index of $100$. In Year 2, the Nominal GDP rose to $\text{₦}1,080\text{ billion}$ and the total population reached $36\text{ million}$. If the Real Per Capita Income in Year 2 was calculated as $\text{₦}25,000$, what was the GDP deflator for Year 2?

In a national cement manufacturing industry, seven operating firms account for the entire market sales. Their annual revenue figures (in millions of Naira) are: Firm A: $\text{N}350$, Firm B: $\text{N}250$, Firm C: $\text{N}150$, Firm D: $\text{N}100$, Firm E: $\text{N}80$, Firm F: $\text{N}40$, and Firm G: $\text{N}30$. What is the four-firm concentration ratio ($\text{CR}_4$) for this industry, expressed as a percentage?

A firm sells $8$ units of a commodity at a price of $\text{₦}50$ per unit. In order to increase its sales to $9$ units, it reduces the price to $\text{₦}46$ per unit for all items sold. What is the marginal revenue, in Naira ($\text{₦}$), generated from selling the 9th unit?

An economy is experiencing inflationary pressure with a current equilibrium national income ($Y$) of $₦850\text{ billion}$ and a full-employment potential national income ($Y_f$) of $₦730\text{ billion}$. If the economy's Marginal Propensity to Save ($MPS$) is $0.2$, calculate the required change in government expenditure ($\Delta G$), in billions of Naira, needed to achieve economic stabilization.

Kalu commenced business with the following assets and liabilities to be recorded in his opening journal entry: Office Equipment $\text{₦}600,000$, Furniture $\text{₦}250,000$, Trade Debtors $\text{₦}150,000$, Cash in Hand $\text{₦}100,000$, and Trade Creditors $\text{₦}200,000$. What is the value of Capital in naira to be credited in the opening entry?

On 1 January 2025, a business recorded commission income accrued of $₦14,500$ and commission income received in advance of $₦8,000$. During the year ended 31 December 2025, total cash received and banked for commission was $₦165,000$. At 31 December 2025, commission income accrued stood at $₦19,000$, while commission income received in advance was $₦11,500$. What is the total amount of commission income to be credited to the Profit and Loss Account for the year ended 31 December 2025?