Statutory organisations usually established by Acts of Parliament are called

• A. public corporations
• B. cooperative societies
• C. joint-stock companies
• D. public enterprises

An adverse environmental impact of the petroleum industry on the economy is

• A. communal riots
• B. the vandalization of oil equipment
• C. oil spillage
• D. community development

The effect of an increase in the personal income tax is to

• A. reduce unemployment
• B. raise the absolute price level
• C. reduce the disposable income
• D. distort the economy

When a union is composed of workers with the same skill,it is termed

• A. a technical union
• B. a craft union
• C. an industrial union
• D. a workers' union

The price of a good rises from N5 to N8 and the quantity demanded falls from 200 to 190 units Over this price range, the demand curve is

• A. perfectly inelastic
• B. fairly inelastic
• C. perfectly elastic
• D. fairly elastic

IBRD as an international monetary institution is concerned with the

• A. improvement of trade among member nations
• B. development of infrastructure in member nations
• C. balance of payments problems of member nations
• D. financing of private businesses in member nations

When two variables are positively related, the graph of the relationship?

• A. is a downward-sloping curve
• B. has a negative intercept
• C. is a straight line
• D. is an upward-sloping curve

The major role of multi-national companies in the petroleum industry in Nigeria is

• A. the establishment of refineries
• B. oil marketing and prospecting
• C. oil marketing only
• D. oil prospecting only

Under a floating exchange rate regime, the determinant of the exchange rate is

• A. an Act of the National Assembly
• B. the highest denomination of the currency
• C. demand for and supply of foreign goods
• D. the system of government

If the country is currently producing at point Y, it can increase production of producer goods by moving to the point

• A. V
• B. W
• C. X
• D. Z