1995 - WAEC Economics Past Questions and Answers - page 4
31
Net National Product (NNP) is equal to the
A
Gross Domestic Product (GDP) less depreciation
B
Gross National Products (GNP) less depreciation
C
Gross Domestic Products (GDP) plus depreciation
D
Gross National Products (GNP) plus depreciation
correct option: b
Users' Answers & Comments32
Terms of trade simply means the price
A
ratio of import to export
B
ratio of export multiplied by import
C
ratio of export to import
D
ratio of export multiplied by price ratio of import
correct option: c
Users' Answers & Comments33
Balance of trade can be define as
A
the value of import in relation to the value of a country's exports
B
the price ratio of imports as against that of exports
C
equality in the total receipts and payments of a country in a year
D
percentage value of imports over percentage value of exports
correct option: a
Users' Answers & Comments34
Which of the following is not a feature of a perfect market?
A
large number of buyersand sellers
B
Homogeneity of products
C
Preferential treatment
D
Absence of transport cost
correct option: c
Users' Answers & Comments35
Which of the following is the source of raising funds for a public limited liability company in West Africa?
A
Bank loans
B
issue of shares
C
issue of debentures
D
ploughing back profits
correct option: e
Users' Answers & Comments36
Which of the following is not an objective of the Indigenisaton policy in Nigeria? To
A
Make Nigerians dominate their economy
B
increase Nigerians participation in the economy
C
prevent foreign monopoly of the economy
D
eliminate foreign participation in the Nigerian economy
correct option: d
Users' Answers & Comments37
Where was oil first discovered in commercial quantities in Nigeria?
A
Oloibiri
B
Warri
C
Elesa Eleme
D
Onitsha
correct option: a
Users' Answers & Comments38
Where is the headquarter of the African Development Bank (ADB) located?
A
Lome
B
Adis Ababa
C
Accra
D
Lagos
correct option: e
Users' Answers & Comments39
International trade takes place because of difference in
A
production cost
B
language
C
government policy
D
currency
correct option: a
Users' Answers & Comments