The notion of short-run and long-run periods is responding for grouping cost into
Fixed and variable
Implicit and explicit
Average and total
Capital and running
Money and opportunity
Correct answer is A
No explanation has been provided for this answer.
Which of the following statements is not true of capital income?
It helps in the assessment of standard of living
It is calculated as National Income Population
It is calculated as Population National Income
It is used by the UNO to assess and assist developing countries
It is used as one of the indicators of economic growth
Correct answer is B
No explanation has been provided for this answer.
Which of the following is not a member of OPEC?
Indonesia
Iran
Venezuela
United Arab Emirates
Egypt
Correct answer is E
No explanation has been provided for this answer.
The price and quantity of crude oil and petrol sold to other countries by Nigeria is fixed by the
ECOWAS
IMF
OPEC
NNPC
ECA
Correct answer is C
No explanation has been provided for this answer.
Regressive tax is not a good tax system because it
Is not convenient to pay
Is not certain what to pay
Is not economical to collect
Does not ensure equity in payment
Is not neutral to price trends
Correct answer is D
No explanation has been provided for this answer.