economics

The table shows the wage distribution of workers. Calculate the mean wage?

A. N7.40 B. N4.00 C. N10.00 D. N14.80 Correct Answer: Option A - N7.40

4 years ago

What is the marginal productivity when the number of workers is increased from 2 to 3?

A. 8kg B. 20kg C. 60kg D. 180kg Correct Answer: Option A - 8kg

4 years ago

The maximum number of workers that should be hired is?

A. 2 B. 3 C. 4 D. 5 Correct Answer: Option C - 4

4 years ago

The diagram above shows a firm operating under conditions of monopolistic competition. The curve W represents its?

A. marginal cost B. average cost C. average revenue D. marginal revenue Correct Answer: Option C - average revenue

4 years ago

The labour force of a country best describes?

A. the number of people in paid employment B. the number of people receiving pension C. people within the retirement…

4 years ago

An upward review of the retirement age will affect the?

A. wage rate B. demand for labour C. supply of labour D. tax rate Correct Answer: Option C - supply…

4 years ago

The movement of people from rural to urban areas affects the?

A. occupational distribution of population B. sex distribution of population C. geographical distribution of population D. age distribution of population…

4 years ago

The Malthusian theory of population has been rendered ineffective by?

A. government policies B. natural disasters C. birth control measures D. technical progress Correct Answer: Option D - technical progress

4 years ago

Industrialization is a prerequisite for balanced economic growth because it?

A. encourages trade liberalization B. stimulates the development of all sectors C. enhances productivity in the manufacturing sector D. expands…

4 years ago

Environmental degradation is more associated with?

A. localization of industries B. location of industries C. decreased urbanization D. urban-rural migration Correct Answer: Option A - localization…

4 years ago