NECO Economics Past Questions & Answers - Page 27

131.

ECOWAS secretariat is located in

A.

Abuja, Nigeria

B.

Accra, Ghana

C.

Conakry, Guinea

D.

Freetown, Sierra Leone

E.

Monrovia, Liberia 

Correct answer is A

No explanation has been provided for this answer.

132.

In the equation Q = a - bp + e; Q and P are .... Variables respectively.

A.

Constant and dependent

B.

Dependent and independent

C.

Error term and independent

D.

Independent and constant

E.

Independent and dependent

Correct answer is E

No explanation has been provided for this answer.

133.

Which of the following is NOT a function of the IMF?

A.

Assisting member countries in printing and issuing their currency

B.

Exchange rate stabilization

C.

Promoting international monetary cooperation

D.

Providing financial aid to members experiencing balance of payment difficulties

E.

Serving as a clearing house of member countries

Correct answer is A

No explanation has been provided for this answer.

134.

A business formation with a minimum of two and maximum of twenty persons is called

A.

Cooperative society

B.

Joint stock company

C.

One man business

D.

Partnership

E.

Public corporation

Correct answer is D

No explanation has been provided for this answer.

135.

Which of the following is NOT a major role of OPEC in production, and marketing of petroleum?

A.

Coordinating and unifying petroleum policies of member countries

B.

Ensuring efficient and regular supply of oil to the two market

C.

Raising the revenue of member countries from oil through price increase

D.

Refining of petroleum products in member countries

E.

Stabilizing oil prices putting a production ceiling

Correct answer is D

No explanation has been provided for this answer.