Question 1 of 20 49 total questions
ECA means
A Economic Commission for Africa
B Economic Community of Africa
C Exporting Countries of Africa
D Economic Conference on Africa
Which of the following are examples of transfer payments?
A gifts and donations
B rents and rates
C profits and dividends
D internal and external debts
Which of the following countries export cocoa?
A Liberia and The Gambia
B Ghana and Sierra Leone
C Nigeria and Ghana
D Sierra Leone and Nigeria
A summary of all the receipts and payments of a country in international transaction is called
A terms of trade
B balance of payment
C balance of payment adjustment
D capital account
The practice of selling goods overseas and often below the cost of production is known as
A retailing
B dumping
C internal trade
D advertising
One advantages if international trade is that
A countries depend on each other
B it introduces variation in prices
C it increases demand for foreign goods
D it makes variety of goods available
International trade depends on the concept of?
A marginal cost advantage
B comparative cost disadvantages
C comparative cost advantage
D absolute cost
Which of the following contributes the highest amount of foreign exchange to the economy of West African nations?
A Construction, manufacturing and banking
B Shipping, trading and fishing
C Power, telecommunication and sports
D Extraction, farming and tourism
One of the advantages of capitalism is that
A consumers are exploited
B private iniatives is discouraged
C efficient allocation of resource is assured
D job security is assured
The population of a country in a certain year was fifty million and her per capita income was $2,050. What was the national income?
A $750,000 million
B $100,250 million
C $102,500 million
D $125,050 million
If the population of a country is low and the Gross National Product is high, the per capita income will be
A high
B low
C average
D unitary
The Net National Product (NNP) is Gross National Product (GNP) less
A domestic product
B foreign product
C depreciation
D investment
A country whose economy is buoyant is likely to have
A a weak currency
B devaluation from time to time
C a strong currency
D balance of payment problem
Monetary control measure are coordinated by
A Development banks
B Merchant banks
C comercial banks
D the central banks
Which of the following is an example of direct tax?
A import duties
B income tax
C export duties
D purchase tax
If tax takes a large proportion of the income of people with lower income, the tax is
A progressive
B proportional
C regressive
D investment
Which of the following institutions assists the government in managing the national debt?
A Commercial banks
B The Central banks
C The capital market
D The World bank
A foreign exchange market deals in
A treasury bills
B currencies
C government bonds
D commodities
A non-bank financial intermediary which is regarded as a pool of risks is the
A co-operative society
B stock exchange
C insurance company
D post office
which of the following financial institutions was originally known as a Building Society?
A Development banks
B insurance company
C Mortgage banks
D merchant banks
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