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

Question 31:

• JAMB 2007

The main objective of WTO is to

A. Help countries with chronic balance of payments problems
B. Help debtor nations solve their problems
C. Ensure adequate tariff protection for infant industries
D. Provide a mechanism for tariff reductions

Question 32:

• JAMB 2008

A major trading problem facing ECOWAS is

A. The absence of common currency
B. Political instability
C. High poverty level
D. Non implementation of decisions

Question 33:

• JAMB 2009

An important function of the World Bank is to

A. Provide short-run loans to members
B. Encourage trade between members
C. Promote capital-intensive production
D. Provide long-time loans to members

Question 34:

• JAMB 2010

One of the objectives of ADB is to

A. Provide subsidies on imported goods to member countries
B. Mobilize short-term loans for member countries
C. Promote economic and social development of member countries
D. Provide technical assistance to only poor member countries

Question 35:

• JAMB 2011

The World Trade Organization is responsible for

A. Stabilizing and harmonization oil prices
B. Ensuring equal participation of countries in trade
C. Modernising world economies
D. Minimizing obstacles to international trade and investment