A persistent rise in the general level of prices implies?
A. an increase in some prices B. a one-time rise in prices C. a steady fall in the purchasing power of money D. that the higher the price level, the more the value of money Correct Answer: Option C – a steady fall in the purchasing power of...
Being a member of the OPEC; Nigeria is in a favorable position to?
A. export her crude oil B. control world crude oil prices C. reap the benefit of a cartel D. borrow money from members Correct Answer: Option C – reap the benefit of a cartel
Exclusions that makes Gross National Product a poor measure of welfare are?
A. government purchases B. government military outlays C. wages and salaries D. housewives services Correct Answer: Option D – housewives services
Which of the following is used for measuring national income?
A. Output, income and wages B. Import, expenditure and output C. Income, output and expenditure D. Export, Import and output Correct Answer: Option C – Income, output and expenditureProducts
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