Roles and relevance of international organization - Jamb Economics Past Questions and Answers

Question 16:

• JAMB 1993

Which of the following are the advantages of Nigeria's membership of ECOWAS? i A greater opportunity for trade according to comparative cost advantage.
ii A large market industries producing under condition of decreasing cost.
iii Competition for home based monopoly firms

A. I and ii only
B. I and iii only
C. Ii and iii only
D. I,ii and iii

Question 17:

• JAMB 1993

From which of the following does Nigeria derive trade concessions?

A. IMF
B. World Bank
C. ADB
D. EEC

Question 18:

• JAMB 1993

The international Bank for Reconstruction and Development is important to developing countries because it?

A. Gives loans to member countries for legal proceedings
B. Offers grants and aid for defence
C. Offers loans to member countries for socio-economics activities
D. Offers grants and aid to finance luxury projects

Question 19:

• JAMB 1994

The main objective of the Economic Community of West African State is to?

A. Estabilish a West African Development Bank
B. Create a West African army
C. Introduce a common currency for the sub-region
D. Promote the free movement of persons, goods and services within the sub-region

Question 20:

• JAMB 1994

The borrowing rights of a member country of the international Monetary Fund are determined by?

A. The seriousness of the country's economic problems
B. Its balance of payments position
C. Its quota to the fund
D. The size of gold reserve