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Economics Past Questions and Answers

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Economics Questions

Question 1946:

If Nigeria imports vehicles from Japan the transaction will appear as a

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A Debit on Japan's balance of payments
B Credit on Japan's balance of payments
C Credit on Nigeria's balance of trade
D Credit on Nigeria's balance of payment

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Question 1947:

One of the objectives of ADB is to

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A Provide subsidies on imported goods to member countries
B Mobilize short-term loans for member countries
C Promote economic and social development of member countries
D Provide technical assistance to only poor member countries

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Question 1948:

The choice of the method of production in an economy is determined by the

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A Level of technical know-how
B Rate of propulation growth
C Availability of natural resources
D Level of income

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Question 1949:

The amount of labour hired depends on the

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A Number of skilled labour available
B Skill of labour
C Marginal productivity of labour
D Price of the inputs

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Question 1950:

What is the population growth rate in 2003?

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A 33.3%
B 20.0%
C 11.0%
D 50%

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