One way of correcting the balance of payments problem of a country is to
Introduce import-promotion measures
Buy investments abroad
Devalue the currency
De-emphasize import-substitution industries
Correct answer is C
Devaluating a country's currency is one of the ways used in correcting a balance of payment problem. The term Devaluation means a reduction in the official rate at which one currency is exchanged for another. It is done to make export attractive by making imports expensive.
When a currency is devalued, its value falls against foreign currencies, when traders realize that a bulk of the local currency will exchange for very little of the foreign currency, they will prefer to export and get paid in foreign currencies with greater value, than import into the country at very high exchange rates.
One of the roles of NNPC in the production and refining of crude oil is to
Secure maximum government revenue and regulate price
Prevent the smuggling of petroleum products
Satisfy the domestic consumption of petroleum products
Protect the local operators in the petroleum industry
Correct answer is C
No explanation has been provided for this answer.
Some of the key indicators of underdevelopment in a country are
Poverty, high level of literacy and low income
Poverty, low level of literacy and low income
Low level of illiteracy, low income and poverty
Poverty, low income and low unemployment level
Correct answer is B
No explanation has been provided for this answer.
External finance for a limited liability company is mainly sourced through
The leasing equipment
The issuing of shares
Trade credits
Bank loans
Correct answer is A
No explanation has been provided for this answer.
The effect of an increase in demand for a commodity accompanied by a decrease in supply will be to
Raise the price of the commodity and affect the quantity in an indeterminate way
Decrease the equilibrium quantity and affect the price in an intermediate way
Raise its price as well as the equilibrium quantity
Lower it price while affecting the equilibrium quantity in an interminate way
Correct answer is C
No explanation has been provided for this answer.