The major achievement of the Economic Community of West African States (ECOWAS) is that it has
Made capital more mobile
Made possible the use of common currency
Increased member's allegiance to former colonial masters
Widened the market for goods produced
Correct answer is D
No explanation has been provided for this answer.
World Trade Organization (WTO)
United Nations Conference on Trade and Development (UNCTAD)
Economic Commission for Africa (ECA)
African Development Bank (AfDB)
Correct answer is D
The African Development Bank was established to help reduce poverty, improve living conditions for Africans and mobilize resources for the continent's economic and social development.
An improvement in a country's terms of trade means that the
Nation can export more services
Nation's receipts on export are equal to payments on imports
Value of her imports is lower than her exports
Visible exports is less than visible imports
Correct answer is C
Terms of trade measure the ratio between the index of export prices and the index of import prices. If a country's terms of trade improve, it means that for every unit of exports sold it can buy more units of imported goods. This means its exports values exceed that of its imports.
Devaluation of currency may not correct a balance of payments deficit if the demand for export is
Perfectly inelastic
Perfectly elastic
Fairly elastic
Unitary elastic
Correct answer is A
No explanation has been provided for this answer.
Balance of trade involves the exchange of
Goods only
Services only
Goods and services
Goods and capital
Correct answer is C
Balance of trade is the difference between the value of a country's exports and the value of its imports. These exports and imports include both goods and services.