Economics Past Questions and Answers

Let P <sub style='font-size: smaller;'>x</sub> represent the price of exports and P<sub style='font-size: smaller;'>m</sub> the price of imports. Then the terms of trade (TOT) are said to be favourable if

In the diagram I refers to the calculation of national income through the

One main quality of a good is that it

One main quality of a good is that it

Bisi needs a book costing N10.00 and a hat costing N10.00. If Bisi buys the book instead of the hat, the opportunity cost of his choice is the?