The foreign exchange market is a market where
Graded commoditties like wheat, flour, etc are sold and bought
Currencies are sold and bought
Treasury bills are sold and bought
Government bonds are sold and bought
Treasury certificates are sold
Correct answer is C
No explanation has been provided for this answer.
Price control cannot work in Nigeria because
The population is too large
The policemen hate to arrest people
While it is fairly easy to control producers and importing firms, smaller distributors are too many to be controlled
Control cannot work under military rule
Too many things are produced in the country
Correct answer is C
No explanation has been provided for this answer.
Increasing Marginal utility
Diseconomies of scale
Increasing costs
Constant returns to scale
Increasing returns to scale
Correct answer is E
A company is said to be experiencing increasing returns to scale when the output increases by a larger proportion than the increase in inputs during the production process.
For example, if the input is increased by 3 times, but output increases by 3.75 times, then the firm or economy has experienced increasing returns to scale.
Which is NOT a direct effort to increase Agricultural production in Nigeria?
Operation Feed the Nation
Nigerian Youth Service Corps
Increased loans to farmers and cooperatives
Research in Agric & Extension services
Mechanization of Agriculture
Correct answer is B
The National Youth Service Corps was not established to cater to the agricultural needs of the country, rather, it is a program set up by the Nigerian government during the military regime to involve Nigerian graduates in nation-building and the development of the country.
Which is an example of an invisible item in the trade Account of Ghana?
Export of Cocoa from Ghana
Import of oil from Nigeria
A gift of a Peugeot 504 by a firm in Nigeria to a firm in Ghana
Payment for shipping and insurance by a Ghanaian company to companies outside Ghana
None of the above
Correct answer is D
Invisible trade includes those items that can not be seen or touched. That is the exchange of intangible goods such as services (receipts and payments arising from activities such as customer service or shipping), income from foreign investment in the form of interest, profits, and dividends; private or government transfers of monies from one country to another, etc.