Price(N) 20 16 Quantity demanded 100 58 A. Inelastic supply B. Perfectly elastic C. Elastic supply D. Unitary elastic…
A. Excess demand over supply B. Under- capacity utilization C. Excess supply over demand D. Economic boom Correct Answer: Option…
A. Dependency ratio B. Labour force C. Per capita D. Net migration Correct Answer: Option D - Net migration Explanation…
A. Opportunity for combating inflation B. Depression in the economy C. Shortage in money supply D. Opportunity for full employment…
A. Revaluation of currency B. Collective bargaining C. Reducing demand for imported goods D. Imposing lower export duties Correct Answer:…
A. Law of diminishing marginal utility B. value in use and value in exchange principle C. Law of returns to…
A. lack of raw materials B. lack of market for produce C. inadequate skilled labour D. over-dependence on the oil…
A. Mean and median B. Mean and standard deviation C. Range and variance D. Mode and mean Correct Answer: Option…
A. 1.25 B. 5.00 C. 1.30 D. 2.25 Correct Answer: Option B = 5.00 Explanation The multiplier effect refers to…
A. Socialism B. Capitalism C. Feudalism D. Mixed economy Correct Answer: Option A - Socialism Explanation Socialism is an economic…