An important function of the World Bank is to
Provide short-run loans to members
Encourage trade between members
Promote capital-intensive production
Provide long-time loans to members
Correct answer is D
The world bank provide finance, advice, and research to developing nations to aid their economic advancement.
Guided deregulation as currently practised in Nigeria implies that
Market force determine interest and exchange rates
Government alone determines interests and exchange rates
Market forces and government determine interest and exchange rates
Exchange rate is regulated while interest rate is fixed
Correct answer is C
No explanation has been provided for this answer.
Dumping in international trade means selling a goods at a
Higher price at home than abroad
Lower price at home than abroad
Price that equates marginal cost with marginal revenue
Price above marginal cost abroad
Correct answer is A
Dumping is an international price discrimination in which an exporter firm sells a portion of its output in a foreign market at a very low price and the remaining output at a high price in the home market.
According to the theory of comparative advantage specialization will result in
Labour-intensive method of production
Capital-intensive method of production
Efficient allocation of resources
Efficient distribution of output
Correct answer is C
The theory of comparative advantage simply explains what a country would do best while also giving up the least.
It is an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners. With this, the economy will enjoy resource allocation optimization and efficiency.
The major reason why countries strive to achieve optimum growth is to
Be self-sufficient
Raise general living standards
Raise the level of production
Reduce aggregate expenditure
Correct answer is A
No explanation has been provided for this answer.