The first European coins and bills, the Euro, was introduced on ...

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The first European coins and bills, the Euro, was introduced on January 1, 2002.
 
  Indicate whether this statement is true or false.

Question 2

What is an informal economy? How does this concept apply to Nigeria?
 
  What will be an ideal response?

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Answer to Question 1

True

Answer to Question 2

An informal economy is the sector of an economy that is not monitored or
taxed by the government. In many developing countries, the informal economy can be
larger than the formal sector. Most of Nigeria's informal urban workers are extremely
poor, and many work as temporary workers, unpaid apprentices, or family laborers. The
informal sector has grown over the past few decades largely because formal sector
employment has been outpaced by the rate of urbanization.