Post Utme Igbinedion University 2020 Economics Question 1

Practice objective / multiple choice question 1 from the 2020 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2020 Economics Objective / Multiple Choice
Question 1 POST_UTME_IGBINEDION_UNIVERSITY • 2020 • ECONOMICS • objective

The National Bureau of Statistics (NBS) reported that Nigeria's GDP grew by 3.2% in the first quarter of 2020. However, the growth rate was largely driven by the non-oil sector, which expanded by 6.1%. What is the implication of this growth rate for the country's economic development?

Answer Options

A. The growth rate indicates a strong and sustainable economic recovery.
B. The growth rate is a sign of a weak and fragile economy.
Correct Answer C. The growth rate suggests that the non-oil sector is driving economic growth, but the oil sector is still a major contributor.
D. The growth rate is a result of a surge in oil prices, which is not sustainable.
Correct Answer
C
Correct Option:
The growth rate suggests that the non-oil sector is driving economic growth, but the oil sector is still a major contributor.

About This Question

This is Post Utme Igbinedion University 2020 Economics Question 1. It is one of the objective questions from the 2020 Post Utme Igbinedion University Economics examination.

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