The joint ventures operating in the Nigerian oil industry are between?

• A. the NNPC and independent marketers
• B. the NNPC and multinational marketers
• C. the NNPC and producer marketers
• D. multinational corperations and independent marketers

From which of the following does Nigeria derive trade concessions?

• A. IMF
• B. World Bank
• C. ADB
• D. EEC

Which of the following are the major disadvantage of direct system of taxation? i, Disincentive of hard work ii, Difficulties in assessment and collection iii, imperfection in tax assessment.

• A. i and ii
• B. i and iii
• C. ii and iii
• D. i, ii and iii

Which of the following are the advantages of Nigeria's membership of ECOWAS? i A greater opportunity for trade according to comparative cost advantage. ii A large market industries producing under condition of decreasing cost. iii Competition for home based monopoly firms

• A. i and ii only
• B. i and iii only
• C. ii and iii only
• D. i,ii and iii

An accurate census is important to a country because it helps?

• A. in solving unemployment problem
• B. to ensure equitable population redistribution relative to natural resources
• C. in deciding on the creation of more local government
• D. in providing a second basis for formulating development policy

According to the income approach to national income measurement, the national income of a country is equal to?

• A. the value of all output produced in the country over the relevant period of time at market prices
• B. the value of output at factors cost
• C. the value added to production
• D. C +I + G

The main function of the price system is to?

• A. distribute resources equally among competing ends
• B. ensure efficient allocation of resources in the economic system
• C. allocate goods and services equally
• D. minimize cheating

The GDP of Nigeria will be greater than her GNP if?

• A. the value of goods and services to Nigeria is greater than the value of those from Nigeria
• B. consumption is greater than investment
• C. government expenditures are greater than the foreign aid received D. the value of goods and services produced by Nigeria businesses abroad is greater than that of foreign businesses in Nigeria
• D. the value of goods and services produced by Nigeria businesses abroad is greater than that of foreign businesses in Nigeria

Labour-intensive strategy of industrialization emphasizes the use of?

• A. steam energy in the process of production
• B. manual method of production
• C. synthetic raw materials
• D. hydro-electric power

The money market is a financial market that specializes in the provision of?

• A. short-term loans
• B. medium-term loans
• C. long-term loans
• D. venture capital for development projects