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Tuesday, 07 April 2026
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Economics Past Questions and Answers

Economics Questions

Question 1221:
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
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Question 1222:
Petroleum is the mainstay of the Nigerian economy because it is the?
  • A Main foreign exchange earner
  • B Greatest employer of labour
  • C Greatests contributor to the growth of agriculture
  • D Source of high income for its workers
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Question 1223:
An indigenous company wholly owned by the federal government of Nigeria which currently engaged in prospecting for oil is?
  • A The Nigerian National Oil Company
  • B Peak Petroleum Industries Nigeria Limited
  • C Nigeria Exploration and Production Company
  • D The Nigeria National Petroleum Corporation
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Question 1224:
An increase in both the legal reserve ratio and discount rate has the effect of?
  • A Increasing the quantity of money in circulation
  • B Decreasing the quantity of money in circulation
  • C Increasing the value of money
  • D Decreasing the value of money
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Question 1225:
Inflation n the Nigeria economy may be fueled by increase in?
  • A The dollar price of crude oil
  • B The sale of company shares
  • C Government expenditure
  • D Sale of government bonds
View Answer & Explanation