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Economics 2005 NECO Past Questions

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1
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
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2
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
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3
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 f member countries
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4
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
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5
ECOWAS secretariat is located in
  • A. Abuja, Nigeria
  • B. Accra, Ghana
  • C. Conakry, Guinea
  • D. Freetown, Sierra Leone
  • E. Monrovia, Liberia V
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