What is the effect of inelastic demand for agricultural products on the income of a farmer?
A price rise results in its fall
A price fall results in its fall
A price fall results in its rise
A price rise leaves the income unchanged
Correct answer is A
No explanation has been provided for this answer.
Progressive tax structure is designed to
Take more from the income of the poor
Take more from income of the rich
Take equal proportion of income from both the rich and the poor
Reducee the problems emanating from tax imposition
Correct answer is B
No explanation has been provided for this answer.
The most important requirement for increasing agriculture output in Nigeria is
For the government to go into large scale farming
To employ relevant foreign technology and reform the land tenure system
To increase farmers incomes and improve the farming techniques
To employ more extension workers
Correct answer is C
No explanation has been provided for this answer.
Monetary policy aimed at reducing demand-pull inflation in the country maybe carried out through
Increase in taxation of private companies, public corporations and private individuals
Increase in cash reserve ratio of commercial banks and the sale of government securities
Decrease in goverment expenditure on education
Direct price control in the market place
Correct answer is A
No explanation has been provided for this answer.
Increase their output
Decrease their output
Keep their output constant
Hoard their output
Correct answer is A
No explanation has been provided for this answer.