The type of cost which has to be covered for a firm to continue production in the short-run is the
Overhead cost
Fixed cost
Marginal cost
Average variable cost
Correct answer is D
No explanation has been provided for this answer.
Labour productivity is the ratio of
Labour to output
Man-hours to output
Output to man-hours
Average product to man-hours
Correct answer is C
No explanation has been provided for this answer.
The GDP of Nigeria will be greater than her GNP if
The value of goods and services to Nigeria is greater than the value of those from Nigeria
Consumption is greater than investment
Government expenditures are greater than the foreign aid received
The value of goods and services produced by Nigeria businesses abroad is greater than that of foreign businesses in Nigeria
Correct answer is D
No explanation has been provided for this answer.
The best index for international comparison of standards of living is the
Gross national product
Net national income
Per capita income
Gross national income
Correct answer is C
No explanation has been provided for this answer.
The value of all output produced in the country over the relevant period of time at market prices
The value of output at factor cost
The value added to production
C + I + G
Correct answer is D
No explanation has been provided for this answer.