Surplus budget
Deficit budget
Balanced budget
Minus budget
Correct answer is B
Deficit budget is a situation whereby government revenue is less than government expenditure.
Socialist system
Mixed system
Capitalist system
Traditional system
Correct answer is C
Capitalist system is where the private individuals controlled the means of production and exchange
The study of broad economic aggregates is
Macro economics
Deductive method of economic analysis
Micro economics
Inductive method of economics analysis
Correct answer is A
Macro Economics studies the fluctuations in the levels of large aggregates and way to prevent the fluctuation.
2
0.4
1
0.5
Correct answer is D
No explanation has been provided for this answer.
The term of trade can be expressed as
(Price index of export ÷ Price index of export) × 100
(Price index of import ÷ price index of export) × 100
(Price index of export ÷ Price index of import) × 100
(Price index of export + Price index of import) × 100
Correct answer is C
Term of trade is the comparison between visible and invisible export and visible and invisible import expresses in price. The ratio of export to import. It could be expressed as
(price index of export ÷ price index of import) × 100
Which can be dented as (px ÷ pm) × 100