The meaning of 'wage-price spiral' is?
Demand pull and cost push inflation pulling each other in different director
Demand pull and cost push inflation intensifying each other
Both of them bringing about a reduction in the price level
That demand pull and cost push inflation increases employment
That wages and prices are rising at a proportional rate
Correct answer is B
No explanation has been provided for this answer.
Palm oil industry is located in Bendel State because the state
Imports raw material for palm oil Industry
Is a palm tree growing area
Soil is unsuitable for other crops
Government does engage land for other crops
Land is suitable for oil
Correct answer is B
No explanation has been provided for this answer.
Marginal cost curve intersects average cost curve
From above at its lowest point
From below before the lowest point
From below at its lowest point
From below after the lowest point
At zero point
Correct answer is C
No explanation has been provided for this answer.
A Nigerian household's demand curve for semovita is downward because?
The demand for semovita is high
The local markets are flooded with semovita
It is produced in Nigeria
Every household can afford to buy semovita
Higher prices attract lower quantities while lower prices attract larger quantities
Correct answer is E
For a demand curve to be downward sloping, it means the quantity demanded tends to be lower at higher prices, indicating the negative relationship between the price of a product and the quantity demanded.
The productivity of labour
The law of diminishing marginal utility
The law of diminishing returns
The concept of factor intensity
Labour intensive production
Correct answer is C
No explanation has been provided for this answer.