Terms of trade is used to describe
The quality of exports
The direction of foreign trades
Purchases on deferred payment basis
The rate at which exports exchange for imports
Correct answer is D
No explanation has been provided for this answer.
International trade is based on the law of
Absolute cost advantage
Variable proportion
Comparative cost advantage
Mutual co-operation
Correct answer is C
No explanation has been provided for this answer.
Expenditure equals revenue
Expenditure is less than revenue
Expenditure is greater than taxation
Direct tax is more than indirect tax
Correct answer is B
No explanation has been provided for this answer.
The incidence of an increase in tax on a commodity with perfectly inelastic demand will be on the
Wholesaler
Retailer
Government
Consumer
Correct answer is D
No explanation has been provided for this answer.
The greatest revenue earning industry in Nigeria is
Construction
Agriculture
Manufacturing
Mining
Correct answer is D
No explanation has been provided for this answer.