economics

In the long run, all production factors are?

A. fixed B. semi-fixed C. variable D. semi-variable Correct Answer: Option C - variable

5 years ago

When the Total Product (TP) is at maximum point, the Marginal Product (MP) and the Average Product (AP) respectively are?

A. zero and decreasing B. decreasing and zero C. negative and decreasing D. both at their maximum Correct Answer: Option…

5 years ago

Unemployment can be reduced by?

A. restricting the productive base of the economy B. adopting capital-intensive techniques of production C. adopting labour-intensive techniques of production…

5 years ago

If the actual population in a country is less than the optimum population, then?

A. it is desirable to have a large population B. it is necessary to have an improved technology to sustain…

5 years ago

Every economy requires an accurate census because it assist in?

A. solving inflation problem B. providing a sound framework for policy formulation C. stimulating economic activities in the national economy…

5 years ago

The diagram below explains the effect of government’s imposition of an indirect tax on a good characterized by zero price elasticity of demand. The tax imposed is borne

A. totally by the consumer B. totally by the producer C. equally by both the consumer and the producer D.…

5 years ago

In this table, the marginal product of the 2nd worker and the average product of the 5th worker respectively are?

A. 23 and 20 B. 22 and 19 C. 14 and 19 D. 11 and 20 Correct Answer: Option B…

5 years ago

International trade takes place because of difference in?

A. production cost B. language C. government policy D. currency E. international boundary Correct Answer: Option A - production cost

5 years ago

Where is the headquarter of the African Development Bank (AfDB) located?

A. Lome B. Adis Ababa C. Accra D. Lagos E. Abdijan Correct Answer: Option E - Abdijan

5 years ago