An ad volarem tax refers to a tax

A. imposed on exports

B. on goods manufactured in the country

C. based on the value of the commodity

D. levied on income

Which of the following is associated with the development of petroleum industry in Nigeria?

A. Neglect of agriculture

B. increase in population growth

C. increase in the rate of unemployment

D. decrease in the rate of inflation

Balance of payment deficit can be corrected by

A. purchasing foreign assets

B. acumulating foreign reserves

C. export promotion measures

D. import promotion measures

The exchange of goods and services across countries can be described as

A. Bi-lateral trade

B. multilateral trade

C. national trade

D. home trade

Which of the following is a major barrier to international trade?

A. religious differences amongst nations

B. uneve distribution of population across the world

C. educational imbalace between the developed and developing countries

D. ideological differences amongst nations

A country is economically rich if

A. If there is a lot of money in circulation relative to its population

B. It has a large volume of goods and services relative to its population

C. It has a large reserve of idle skilled manpower

D. There is a large amount of reserved mineral resources

The main role of the Organization of Petroleum Exporting Countries (OPEC) is

A. fixing oil production levels

B. ensuring optimum production of oil

C. promoting efficiency in the management of oil

D. supply oil at affordable rates