Commercial banks settle their inter-bank indebtedness through

A. merchant banks

B. central banks

C. development banks

D. stock exchange

Which of the following banks grant credit facilities to individuals wishing to build houses?

A. Central Bank of Nigeria

B. Nigerian Industrial Development Bank

C. Agricultural Credit Bank

D. Federal Mortgage Bank of Nigeria

Unemployment that arises because of introduction of new machines and equipment in production is called

A. cyclical

B. structural

C. seasonal

D. disguised

Mono-product economies are those that produce

A. only intermediate products

B. petroleum products

C. agricultural products

D. one main commodity

The primary objectives of the Nigerian Industrial Development Banks(NIDB) is the provision of loans to

A. farmers

B. manufacturers

C. setate agents

D. transporters

Small enterprises finds it difficult to expand due to

A. inadequate capital

B. lack of skilled manpower

C. the high level of technology required for expansion

D. their inability to provide after-sale services

The Organization of Petroleum Exporting Countries (OPEC) is a

A. cartel

B. duopoly

C. monopoly

D. monopsony

One major export crop in West Africa is

A. rice

B. maize

C. palm kernel

D. cocoa

Balance of payment deficit implies that a country is

A. importing more than she is exporting

B. consumed less than she is producing

C. living below her means

D. more productive than others

West African countries have low level of economic development due to

A. under-population

B. inadequate labour

C. failure to plan

D. ineffective plan implementation