Economics Questions and Answers
Economics questions and answers to help you prepare for JAMB, WAEC, NECO, Post UTME and job aptitude tests or interviews.
Economics questions and answers to help you prepare for JAMB, WAEC, NECO, Post UTME and job aptitude tests or interviews.
An ad valorem tax is imposed on_____?
Exports
Imports
The Value of a Commodity
Special Commodities
Correct answer is C
An ad valorem tax (Latin for "according to value") is a tax whose amount is based on the value of a transaction or of property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT).
From the diagram shown, the optional point of production is_____________?
R
T
S
U
Correct answer is C
No explanation has been provided for this answer.
Given that Y = C + 1, where C = 50 + 0.75 and 1 = N45m, what is the equilibrium level of income?
N20m
N380m
N200m
N180m
Correct answer is B
No explanation has been provided for this answer.
Karl Marx
Adam Smith
David Ricardo
J.M Keynes
Correct answer is B
No explanation has been provided for this answer.
The coefficient of the price elasticity of supply is always_____________
Constant
Zero
Positive
Negative
Correct answer is C
No explanation has been provided for this answer.