In the diagram equilibrium price is:
P²
Po
P¹
Indeterminate
between Po and P¹ Diagram P.2
Correct answer is B
No explanation has been provided for this answer.
The reward on machinery and equipment in the process of production is known as
Profit
Interest
Rent
Wages
Correct answer is B
Capital' - investment in man-made aids to production including buildings, factories, computers. The reward for capital is interest.
One of the functions of ECOWAS is to
Provide funds for infrastructural development
Determine prices of exports
Redistribute income among citizens
Provide employment for citizens of member nations
Correct answer is A
Some of the functions of ECOWAS centers on;
- Peace and Security
- Developing Infrastructure
- Policy harmonization (to facilitate trade)
- Good Corporate Governance.
A deficit balance of payments is measured by subtracting the debits from the credits in the
Current account
Current and capital accounts
Current and escrow accounts
Capital and escrow accounts
Correct answer is B
A balance of payments deficit means the country imports more goods, services, and capital than it exports. The current account + capital account make up the balance of payment account and when the imports exceeds the exports, it becomes a deficit balance of payment.
10
20
30
50
Correct answer is C
Emigrants are people who move in to settle in a particular region (increasing the new population)
Immigrants are people who move out of a particular region to another place. (Reducing the old place of residence)
50 + 10 = 60 new population
Less number of dead people and immigrants; = 30
60 - 30 = 30
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