One of the main achievements of the Economic Commission for Africa is
Eliminating trade restrictions among states
Encouraging transport and communication development
Guaranteeing a steady flow of foreign investment into Africa
Providing the machinery for collaboration on monetary issues
Correct answer is A
The Economic Commission for Africa was established to encourage economic cooperation among its member states (the nations of the African continent). They have achieved this by eliminating barriers to trade among member States.
A fiscal policy instrument that can influence the demand pattern in an economy is
Government spending
Interest rate
Income tax
Tariff
Correct answer is C
An income tax is a tax that governments impose on income generated by businesses and individuals within their jurisdiction. The higher the rate of taxation, the higher the cost of product or service. This will affect the rate of demand.
The relationship between tax rate and income which is relevant to a progressive tax is shown by
Curve X
Curve Y
Curve Z
Curve X and Z
Correct answer is B
No explanation has been provided for this answer.
The lower half of the diagram indicates
The flow of goods and services
Payments for goods and services
The flow of income
Government transactions
Correct answer is D
No explanation has been provided for this answer.
A measure for preventing the external value of the naira from falling is for the government to
Increase its spending with foreign reserve
Sell its own currency
Reduce interest rate
Buy its currency with foreign reserve
Correct answer is B
If the naira can be valued to the point where it can compete with other foreign currencies in the foreign exchange market, the value will be high in the international market.
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