economics

A major disadvantage of the arithmetic means is that it is?

A. not useful for large data B. not suitable for further statistical analysis C. cumbersome to determine the actual value…

4 years ago

One of the limitations PPC assumption is that there is?

A. no indication of technological development B. no recognition of preferred goods for countries C. technical inefficiency D. abundant resources…

4 years ago

An effective way of controlling inflation in a mixed economy is to?

A. increase productivity B. reduce income tax C. ration available output D. increase imports Correct Answer: Option A - increase…

4 years ago

If the GDP is N60 billion; what is the difference between the contributions of oil and manufacturing sectors?

A. N11.7 billion B. N13.3 billion C. N21.7 billion D. N26.6 billion Correct Answer: Option B - N13.3 billion Explanation…

4 years ago

The percentage contribution of the Agricultural sector is?

A. 67.5 B. 40.0 C. 32.4 D. 25.0 Correct Answer: Option D - 25.0 Explanation 90/360 x 100 = 25%

4 years ago

The reward on machinery and equipment in the process of production is known as?

A. profit B. interest C. rent D. wages Correct Answer: Option B - interest Explanation Capital' - investment in man-made…

4 years ago

One of the functions of ECOWAS is to?

A. provide funds for infrastructural development B. determine prices of exports C. redistribute income among citizens D. provide employment for…

4 years ago

A deficit balance of payments is measured by subtracting the debits from the credits in the?

A. current account B. current and capital accounts C. current and escrow accounts D. capital and escrow accounts Correct Answer:…

4 years ago

In a village of 50 persons; 10 immigrated; 25 died and 5 emigrated in year. Determine the total population?

A. 10 B. 20 C. 30 D. 50 Correct Answer: Option C - 30 Explanation Emigrants are people who move…

4 years ago

The Malthusian theory was concerned about the relationship between?

A. population growth rates of the rich and the poor nations B. population density and national income C. population growth…

4 years ago