economics

The best method to curb inflation in Nigeria is to?

A. reduce importation of commodities B. increase the general level of production C. reduce the volume ofmoney supply D. set…

5 years ago

The sharp increase in the prices of most goods and services during the last quarter of 1994 in Nigeria were mainly due to?

A. ban on importation of foreign goods B. population upsurge C. the introduction of value-added tax D. increase in transport…

5 years ago

The Central Bank’s expansionary monetary policy is justified at a period?

A. when the inflation rate is high and the economic is experiencing a boom B. of economic depression accompanied by…

5 years ago

The most important goal of OPEC is to?

A. present a united front for the purpose of raising the price of crude oil B. bring unity among the…

5 years ago

The major source of Nigeria’s foreign exchange is the export of?

A. skilled manpower B. palm kernel and cocoa C. crude oil D. groundnuts and cotton Correct Answer: Option C -…

5 years ago

When compared with a labour-intensive industry, a capital-intensive industry employs more?

A. workers than capital B. workers than machinery C. raw materials than capital D. machinery than workers Correct Answer: Option…

5 years ago

Infant industries denote industries which?

A. are introducing new products B. are too young to compete in the world market C. produce baby food and…

5 years ago

The crucial factors which determine the location of petroleum refineries in Nigeria are availability of raw materials and?

A. capital B. political consideration C. nearness to source of power D. labour Correct Answer: Option B - political consideration

5 years ago

The government can influence the price of agriculture products by?

A. fixing minimum prices when agricultural output is low B. fixing maximum prices in years of bumper harvest C. the…

5 years ago

In recent times, agriculture in Nigeria tends to lose its vital labour force as a result of?

A. lack of an effective agricultural policy B. employment opportunities in the oil sector C. rural-urban drift D. low prices…

5 years ago