Question 1 of 20 51 total questions
Which of the following countries is not a member of the Economic Community of West African States (ECOWAS)?
A Ghana
B The Gambia
C Cameroun
D Guinea Bissau
West African countries have low level of economic development due to
A under-population
B inadequate labour
C failure to plan
D ineffective plan implementation
Balance of payment deficit implies that a country is
A importing more than she is exporting
B consumed less than she is producing
C living below her means
D more productive than others
One major export crop in West Africa is
A rice
B maize
C palm kernel
D cocoa
The Organization of Petroleum Exporting Countries (OPEC) is a
A cartel
B duopoly
C monopoly
D monopsony
Small enterprises finds it difficult to expand due to
A inadequate capital
B lack of skilled manpower
C the high level of technology required for expansion
D their inability to provide after-sale services
The primary objectives of the Nigerian Industrial Development Banks(NIDB) is the provision of loans to
A farmers
B manufacturers
C setate agents
D transporters
Mono-product economies are those that produce
A only intermediate products
B petroleum products
C agricultural products
D one main commodity
Unemployment that arises because of introduction of new machines and equipment in production is called
A cyclical
B structural
C seasonal
D disguised
which of the following banks grant credit facilities to individuals wishing to build houses?
A Central Bank of Nigeria
B Nigerian Industrial Development Bank
C Agricultural Credit Bank
D Federal Mortgage Bank of Nigeria
Commercial banks settle their inter-bank indebtedness through
A merchant banks
B central banks
C development banks
D stock exchange
foreign exchange control in most West African countries is is enforced by the
A development banks
B Merchant banks
C ministry of economic planning
D Central banks
Inflation can best be checked by
A allowing supply to remain constant
B decreasing supply and incresing wages
C increasing supply and holding wages constant
D decreasing supply and wages
Shares and stocks can be bought in the
A Commodity market
B Stock exchange
C Money market
D Open market
Which of the following will occur when the market is unstable?
A Price will fluctuate
B Demand will remain static
C Unemployment will surely fall
D Price will remain static
Abstention from consumption which enables capital to be produced is called
A Savings
B Production
C Accumulation
D Opportunity cost
The most unique quality of money is its
A Relative scarcity
B Divisibility
C Durability
D General acceptability
Deficit budget means that government’s
A Government expenditure is equal to its revenue
B Planned expenditure is more than the estimated income
C Planned income and expenditure target cannot be achieved
D Expenditure is less than estimated revenue
Which of the following is an item of government recurrent expenditure?
A Road construction
B Port facilities
C Wages and Salaries
D Telecommunication projects
Which of the following is an item of government recurrent expenditure?
A Road construction
B Port facilities
C Wages and Salaries
D Telecommunication projects
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