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Economics 1996 WAEC Past Questions

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31
The hourly wages of five employees of the Nigerian Port Authority are N2.52, N3.96, N9.20, and N3.75 respectively. The median hourly wage is
  • A. N2.52
  • B. N3.28
  • C. N3.75
  • D. N3.96
  • E. N9.20
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32
The petroleum industry in Nigeria is an example of a
  • A. capital-intensive industry
  • B. service industry
  • C. labour-intensive industry
  • D. tertiary production industry
  • E. localized industry
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33
The international cartel formed to stabilize the world oil market is the
  • A. Economic Commissioner for Africa
  • B. International Monetary Fund
  • C. Organization of Petroleum Exporting Countries
  • D. Organization of Petroleum Importing Countries
  • E. International Trade Organization
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34
The United Nation Conference on Trade and Development (UNCTAD) is a forum designed specifically for discussing the
  • A. political conflicts in the United Nation Security Council
  • B. educational needs of the developed countires
  • C. religious affairs in the Southern Africa
  • D. revenue allocation in Nigeria
  • E. better terms of trade in the world
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35
The International Monetary Fund (IMF) is an international organization which
  • A. gives annual grants to all developing countries
  • B. assist countries to solve their balance of payment problems
  • C. execute their development projects
  • D. help to promote regional economic groupings
  • E. is owned by all developed countries
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