Question 1 of 20 135 total questions
The Economic Community of West African States (ECOWAS) has been been slow in achieving its objective sbecause of
A political instability in member state
B the activities of multinationals
C inadequate personnel at the secretariat
D inadequate international support
which of the following is excluded when making national income?
A dividends
B wage and salaries
C transfer of payments
D profits
The national income of a country can be estimated by the
A cost-benefit method
B distribution method
C expenditure method
D consumption method
Development planning which take an overall view of the economy is described as
A aggregate economic planning
B disaggregate economic planning
C sectorial economic planning
D system economic planning
A surplus in the balance of payment should be used to
A subsidized multinational companies
B build infracstructures for friendly nations
C make donations to developed countries
D buy investment overseas
which of the following item is under the capital account of a balance of payment?
A repayment of foreign loans
B visible imports
C invisble exports
D cocoa exports
A policy by which government restrict the amount of foreign currencies bought and sold is known as
A devaluation
B credit creation
C exchanging control
D export promotion
Trade among West African countries is poor because the
A countries are self-sufficient
B communication links are weak
C number of banks is insufficient
D people are not enterprising
International trade is an application of the principle of
A industrial production
B mass production
C regional co-operation
D comparative cost advantage
One disadvantages of direct tax is that
A government's revenue is reduced
B price of essential commodities fall
C people are discouraged from additional work
D firms make more profit
Taxes levied on commodities are
A direct taxes
B indirect tax
C poll tax
D investment taxes
The act of selling goods in foreign markets at prices below those charged at home market is called
A exchange
B specialization
C dumping
D exporting
To ensure high employment rate, developing countries should
A build more universities
B protect infant industries
C organize trade fairs
D prevent rural-urban drift
Which of the following is not a direct effort to increase agricultural production?
A operation feed the nation
B use of improved seedlings
C increased loans to farmers and co-operative societies
D National Youth Service Corps
When the general price level persistently falls, the rate of unemployment
A rises
B stagnates
C rapidly reduces
D equal natural groth rate
The number of people who are qualified to work and who offer themselves for employment are called
A migrant labour
B working population
C labour turnover
D mobility of labour
which of the following will ensure efficiency in the in the industrial sector of your country?
A indigenization
B privatisation
C nationalization
D liquidation
which of the following is an advantage of localization of industry?
A development of subsidiary firms
B creation of paralell markets
C developments of slums
D atrraction of foreign capital
Open Market Operation (OMO) means the
A provision of credit facilities by commercial banks
B provision of credit facilities by the mortgage banks
C buying and selling of government securities by the central banks
D procedure for the establishment of commercial banks
The market consisting of a network of dealers where currencies can be bought and sold is known as
A capital market
B foreign exchange market
C commodity market
D the stock market
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