economics

The abolition of all forms of trade barriers among member countries while maintaining common external tariffs against non-members is a feature of a?

A. free trade B. custom union C. common market D. economic union Correct Answer: Option D D. economic union Explanation…

6 years ago

A country has favourable terms of trade when the prices of her?

A. exports rise relative to the price of her imports B. exports fall relative to the price of her imports…

6 years ago

A conscious effort of the government to achieve a specific set of goals is?

A. economic planning B. economic development C. economic growth D. economic target Correct Answer: Option A A. economic planning Explanation…

6 years ago

The export of West African countries are mostly composed of?

A. service B. raw materials C. manufactured goods D. consumer goods Correct Answer: Option B B. raw materials Explanation A…

6 years ago

When the demand for foreign exchange exceeds its supply, the value of the domestic currency?

A. appreciates B. depreciates C. remains unchanged D. expands Correct Answer: Option B B. depreciates Explanation If the demand for…

6 years ago

In order to control inflation, the government should?

A. reduce the cost of borrowing B. buy securities in the open market C. adopt a restrictive monetary policy D.…

6 years ago

Which of the following is not an objective of economic planning?

A. need to direct economic development of the country towards the desired direction B. desire to ensure sustained cultural development…

6 years ago

The proportion of commercial banks’ total assets kept in the form of highly liquid assets is known as?

A. demand deposit B. fixed deposit C. cash ratio D. moral suasion Correct Answer: Option A A. demand deposit Explanation…

6 years ago

The main item traded on a stock exchange market is?

A. treasury bills B. traveller's cheque C. foreign currencies D. new shares Correct Answer: Option D D. new shares Explanation…

6 years ago

Industry is best described as?

A. firm that sells a set of closely related commodities A. industrial concern that is into production and selling of…

6 years ago