Post Utme Economics Past Questions and Answers

Question 166:

Which of the following is not a direct tax?

A. Company Income Tax
B. Capital Tax
C. Purchase Tax
D. Personal Income Tax
E. Capital Gains Tax

Question 167:

The process by which West African countries attempt to reduce the import of manufactured goods by encouraging firms to produce these at home is known as ____________

A. Industrialization
B. Export promotion
C. Import substitution
D. Export substitution
E. Import expansion

Question 168:

The basic principles of co-operative societies are those of ____________

A. Active participation of capitalists in the affairs of cooperative societies
B. Worker ownership and owner control
C. Sole proprietorship
D. Partnership
E. Denying of credit facilities to members

Question 169:

Foreign exchange control in Nigeria is administered by the ____________

A. United Bank for Africa
B. Union Bank of Nigeria
C. First Bank of Nigeria
D. Central Bank of Nigeria
E. National Bank of Nigeria

Question 170:

The rate of exchange between a domestic and a foreign currency is defined as ____________

A. Terms of trade
B. Domestic currency price of a unit of the foreign currency
C. Foreign currency price of gold
D. Domestic currency price of gold
E. None of the above