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2656

The diagram above explains the effect of government's imposition of an indirect tax on a good characterized by zero price elasticity of demand.The tax imposed is borne

A. totally by the consumer
B. totally by the producer
C. equally by both the consumer and the producer
D. by the the government

View Answer & Discuss JAMB 1995

2657

The current stage of the economy is depicted in curve 1. Point P suggests that the economy is

A. reaching full employment but not full prodduction
B. attaining full production but not full employment
C. under capitalized
D. attaining both full employment and full production

View Answer & Discuss JAMB 1997

2658

The movement of curve I to ll suggests

A. an improvement in capital goods technology but not in consumer goods technology
B. a movement from unemployment to full employment
C. that the output for the society has declined
D. a gain in consumer goods technique and not in capital goods technique

View Answer & Discuss JAMB 1997