economics

An increase in the quantity of goods and services produced in a country which raises her national income is known as?

A. economic development B. economic growth C. domestic investment D. productivity Correct Answer: Option B B. economic growth

6 years ago

Where the burden of a tax finally rests is called?

A. tax object B. tax rate C. incidence of taxation D. system of taxation Correct Answer: Option C C. incidence…

6 years ago

Which of the following is a form of tax evasion?

A. wrong declaration of earnings B. payment of flat-rate tax C. constant change of employment D. low capacity utilization Correct…

6 years ago

In a rapidly growing economy, a change in technology which is labour saving is likely to cause?

A. residual unemployment B. structural unemployment C. disguised unemployment D. frictional unemployment Correct Answer: Option B B. structural unemployment Explanation…

6 years ago

A mixed economy combines the characteristics of both?

A. planned and capitalist economies B. exchange and subsistence economies C. subsistence and planned economies D. capital and exchange economies…

6 years ago

The economic system in which the state takes the economic decision s through detailed planning is?

A. Capitalism B. socialism C. traditional economic system D. mixed economic system Correct Answer: Option B B. socialism

6 years ago

Agriculture is important to the economy of West African countries because it is the source of?

A. power B. equipment supply C. industrial input D. technological progress Correct Answer: Option C C. industrial input

6 years ago

Which of the following agricultural system is mainly for the cultivation of food crops for family consumption?

A. Co-operative farming B. Commercial farming C. Subsistence farming D. Plantation farming Correct Answer: Option C C. Subsistence farming

6 years ago

The difference between the Gross National Products (GNP) and the Gross Domestic Product (GDP) is?

A. total interest payment B. net income generated internally C. total national savings D. net income from abroad Correct Answer:…

6 years ago

Amount proposed for payment of wages and salaries in a budget is regarded as part of?

A. recurrent expenditure B. direct investment C. recurrent revenue D. capital receipts Correct Answer: Option A A. recurrent expenditure

6 years ago