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736
Government revenue from the groundnut industry is from
  • A. licences
  • B. rents
  • C. royalties
  • D. taxes
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737
The theory of comparative cost advantage is associated with
  • A. Alfred Marshal
  • B. Adam Smith
  • C. David Ricardo
  • D. J. B. Say
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738
When the value of a nation’s export is greater than its imports
  • A. a favourable balance of trade exists
  • B. an unfavourable balance of payment exists
  • C. the net foreign trade is zero
  • D. inflation occurs
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739
To improve the balance of payment s position in West African countries, there must be
  • A. removal of barriers to importation of goods and services
  • B. increase rate of exportation of goods and services
  • C. increase domestic consumption of foreign produced goods
  • D. the development of the local market
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740
The Economic Community of the West African States (ECOWAS) is an example of
  • A. billateral trade
  • B. economic integration
  • C. regional marketing board
  • D. international competition
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