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916

Economic development may be defined as economic growth?

  • A. in a given country
  • B. over a long period
  • C. and improved health facilities
  • D. and improved distribution of wealth
View Answer & Discuss (5) JAMB 1999
917
The price of a good will not be affected by the imposition of a sales tax on it if the?
  • A. supply is inelastic
  • B. demand is inelastic
  • C. supply is perfectly elastic
  • D. demand is perfectly elastic
View Answer & Discuss (3) JAMB 1999
918
A free trade area emerges when?
  • A. traders from one part of the country can move freely to other parts
  • B. customs regulation are harmonized among countries
  • C. a group of countries decide to remove restrictions on imports from one another
  • D. the UNCTAD is in force
View Answer & Discuss JAMB 1999
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919
De valuation helps in checking adverse balance of payments if the?
  • A. demand for imports is elastic
  • B. demand for imports is inelastic
  • C. supply of exports is elastic
  • D. demand for exports is inelastic
View Answer & Discuss JAMB 1999
920
Gains from trade depends on?
  • A. comparative advantage
  • B. absolute advantage
  • C. distributive cost advantage
  • D. absolute cost advantage
View Answer & Discuss JAMB 1999
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