The price index computed between two time periods is given as 128%; This implies that the?
A. disposable income has increased by 28% B. living standards have fallen by 128% C. living standards have risen by 128% D. living standards have fallen by 28% Correct Answer: Option B – living standards have fallen by 128%
The monetization policy of the Nigerian government is aimed at?
A. encouraging public servants to retire early and become self-employed B. transferring government’s properties to retired public servants C. reducing the government’s burden on the provision of fringe benefits to public servants D. helping the government...
In economics; production takes place only when?
A. producers sell to retailers B. value has been added to a commodity C. modern equipment is used D. consumption has taken place Correct Answer: Option D – consumption has taken place
If elasticity of demand is greater than I and less than infinity; demand is said to be?
A. elastic B. perfectly inelastic C. inelastic D. perfectly elastic Correct Answer: Option A – elasticProducts
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