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Suppose the public expenditure as a percentage of GDP of four countries is shown in...

Economics
JAMB 2023

Suppose the public expenditure as a percentage of GDP of four countries is shown in the table below

A 40%
B 50%
C 33%
D 36%

 

Which type of economy exists in these countries?

  • A. Traditional
  • B. Planned
  • C. Pure market
  • D. Mixed
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Correct Answer: Option D
Explanation

The economy is mixed with the highest GDP. It constitutes private expenditure as a percentage of GDP.

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Project Topics and Materials, Post-UTME past questions - Download now or upload yours to get paid
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Project Topics and Materials, Post-UTME past questions - Download now or upload yours to get paid
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789