Per capita income in any West African country is measured by
Dividing the GNP by total population
Adding the total savings to the GNP
Multiplying the GNP by the total population
Subtracting the GNP fron the GDP
Correct answer is A
No explanation has been provided for this answer.
The benefits that result from concentrating similar firms in an area is referred to as
External diseconomies of scales
Internal diseconomies of scales
Internal economies of scales
External economies of scales
Correct answer is D
No explanation has been provided for this answer.
In long run, all factors inputs are
Variable
Diminishing
Constant
Fixed
Correct answer is A
No explanation has been provided for this answer.
The precautionary motive for holding money is to enable the holder to
Buy stocks when interest are high
Overcome unforeseen contigencies
Buy goods and services on daily basis
Buy fixed assets
Correct answer is B
No explanation has been provided for this answer.
In determining cost, economics considers
Implicit cost only
Explicit cost only
Implicit and explicit costs
Explicit cost less implicit
Correct answer is C
No explanation has been provided for this answer.