Tariff on imports are meant to
Prevent a foreign goods
Discourage exports
Encourage exports
Increase the level of external dependency
Correct answer is A
No explanation has been provided for this answer.
From which of the following does Nigeria derive trade concessions?
IMF
World Bank
ADB
EEC
Correct answer is D
No explanation has been provided for this answer.
Demand for imports is price inelastic
Demand for imports is neutral
Production for export is low
Demand for exports is price elastic
Correct answer is D
No explanation has been provided for this answer.
It is impossible to satisfy all human wants because
Areas of fertile land are very limited
Oceans and seas limit land space for farming
Resources are not equitably distributed
Available resources are limited
Correct answer is D
No explanation has been provided for this answer.
Comparative advantage implies that a country will specialize in producing the commodity
With the highest opprotunity cost
For which output per worker is lower than in other countries
With the lowest opportunity cost
For which output per worker is the same with those of other countries
Correct answer is C
No explanation has been provided for this answer.