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

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

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

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

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

An economic system in which most means of production are owned and controlled by the State is known as a

A. socialist economy

B. capitalist economy

C. mixed economy

D. political economy

E. feudal economy