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3056

According to the theory of comparative advantages, countries are to specialize based on their

  • A. absolute cost advantages
  • B. absolute cost disadvantages
  • C. comparative cost advantages
  • D. comparative cost disadvantages
  • E. the availability of labour
View Answer & Discuss (4) NECO 2003
3057
Equilibrium prices is
  • A. a price which equates demand with supply
  • B. a price where there is excess demand
  • C. where consumers gain much
  • D. where producers gain much
  • E. where supply is more than demand
View Answer & Discuss NECO 2003
3058
In economics, electricity, water supply, communication networks, road, etc are known as
  • A. capital structure
  • B. development induces
  • C. development projects
  • D. infrastructural facilities
  • E. project growth
View Answer & Discuss (2) NECO 2003
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3059
A tax system which takes lesser percentage of a tax payers income as his income increase is known as
  • A. direct tax
  • B. indirect tax
  • C. progressive tax
  • D. proportional tax
  • E. regressive tax
View Answer & Discuss (7) NECO 2003
3060
Efficiency of labour implies
  • A. education and training
  • B. good working condition
  • C. healthier workforce
  • D. increased productivity worker accompanied by improvement in the quality of output
  • E. the amount of incentives or remuneration given to workers
View Answer & Discuss (2) NECO 2003
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