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- VERIFIED-ECONS-OBJECTIVES
- 1-10 ABBCCBAACC
- 11-20 CBCCABACDB
- 21- 30 AADDBACDBD
- 31-40 CBDCDCDABC
- 41-50 CDBCCABABA
- 2a.Disposable income:
- i.doctor=10% of 8000=10/100*800/1=$800
- ii. Engineer =12% of 7000=12/100*7000=$840
- iii. Civil servant= 18% of 5000=18/100*5000 =$900
- iv. Nurse= 15% of 6000 =15/100*6000= $900
- 2b. Regressive tax system
- 2c. -profession with lower income pay higher tax
- -the tax percentage rate in professions earning high is lower than that of profession earning low income
- 4a. -To avoid or control inflation
- - To control the profit of companies - To prevent the exploitation of consumers by producers
- - To help low learner.
- 4b.
- - it encourages hoarding of commodities bt wholesaler and retailers
- -it encourages conditional sales of product-it discourages shortage which might result in queues and racketeering
- -it leads to creation of black market
- (7a)
- Deflation maybe defined as a continuos fall in price level of goods and services as a result of decrease in the volume of money in circulation.
- (7b) - it increase the volume of money
- -it encourages export
- -it encourages savings.
- (7c)
- - it discourages savings
- -loss of value of money
- -it leads to balance of payment problems
- =============================
- (3a)
- Trade union can be defined as an organization of workers in a particular craft or industry.
- (3b)
- (i)
- collective bargaining: trade union afford workers the ability to improve wages
- (ii)
- To protect the interest of the workers: some employers are very exploitive, thus trade union bcum greatly imperative.
- (iii)
- Participation in policy formulation of the organizationiv. Goal congruency.
- (3c)
- -strike
- -dialogue
- 6) balance of payment disequilibrium can be defined as a situation which occurs when the total receipt of a country on the combined current and capital account are not equal to the payment
- 6aii) Balance of payment surplus: is a situation when the total receipt from other counti existing exceeded the total payment to the countries during trading period
- 6aiii) Balance of payment deficit: th is occurs when the combined one receipt on the current and long capital account of a country are less than corresponding payment
- (1)
- (i)
- Vc=Tc-Fc
- At 2=>100-40=60
- At 4=>140-40=100
- At 6=>180-40=140
- (ii)
- ATc=Tc/output
- At 2=> 100/2=50
- At 3=> 120/3=40
- (iii)
- Mc=change in Tc/Change in output
- At 4 and 6 =>(180-140)/(6-4)
- =40/2 =20
- (1b)
- profit=Tc-Vc
- (i)
- 100-60=$40
- (ii)
- 140-40=$100
- VERIFIED-ECONS-OBJECTIVES
- 1-10 ABBCCBAACC
- 11-20 CBCCABACDB
- 21- 30 AADDBACDBD
- 31-40 CBDCDCDABC
- 41-50 CDBCCABABA
- (6b)
- balance of payments surplus:there is balance of payments surplus when the total receipts from all other countries exceed the total payments to the other countries during a given period. this situation gives rise to what is referred to as favourable balance of payments. balance of payments deficit: balance of payments deficit is a situation which occurs when the combined receipts on the current and long term capital accounts of a country are less than the corresponding payments
- (6c)
- -low level of agricultural production: this make Nigeria dependent on food imports and imported inputs for our agro-allied industries.
- -political instability:it discourages export drive but encourages massive importattion of goods. - excessive government expenditure:this attitude encourages the government to engage in massive importation of all kinds of goods into the country. -servicing of huge external debts: this can go along way to deplete the external reserrves and use all earnings to settle external debts.
- 6c1)
- Low level of technological development: in one of the reason why west Africa countries experience balance of payment problems be cos it makes them a greater importer of technology
- VERIFIED-ECONS-OBJECTIVES
- 1-10 ABBCCBAACC
- 11-20 CBCCABACDB
- 21- 30 AADDBACDBD
- 31-40 CBDCDCDABC
- 41-50 CDBCCABABA[/lst]
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