The terms of trade are said to be favorable only if
Value of total exports equals value of total imports
Value of merchandise exports is greater than value of merchandise imports
There are no balance of payments problems
There is an increase in the value of a unit of export in terms of imports
Foreign exchange reserves do not change
Correct answer is D
No explanation has been provided for this answer.
Which is the dominant form of tax in Nigeria
Direct tax
Indirect tax
Inheritance tax
Personal income tax
Value added tax
Correct answer is A
No explanation has been provided for this answer.
A country has a surplus in its balance of visible trade if
The value of imports exceeds the value of exports of goods
The value of exports exceeds the value of import of goods
The value of goods exported is equal to the value of goods imported
It is able to spend a lot on capital programmes
Commercial banks assets increase
Correct answer is B
A surplus in the balance of trade occurs when exports exceed imports
50litres
32.5litres
30litres
35litres
Correct answer is B
Qs = 25 + 0.25p
= 25 + 0.25(30) = 25 + 7.5
= 32.5litres
From the diagram, determine the profit-maximizing output
600
800
900
1000
Correct answer is C
The profit – maximizing output level is 900 because at this, output level MC = MR. The marginal cost curve is tangential to the marginal revenue line which shows the price maximizing level output.
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