ECO441
Question: sector is known to produce raw materials for industries and foreign earnings to government
Answer: Agricultural
Question: A measure used to access and rank countries levels of social and economic development is known as
Answer: Human Development Index
Question: Which of these is not a goal of economic planning
Answer: Improve economic inequalities
Question: A planning that entails a central control and direction of all economic activities in accordance with a single plan referred to as
Answer: Totalitarian Planning
Question: Variables whose values are determined from within the system are termed variables
Answer: Endogenous
Question: The first National Development Plan in Nigeria was between
Answer: 1962-1968
Question: The theory of unlimited supply of labour is associated with
Answer: Arthur Lewis
Question: With economic planning, the cycle of poverty can be elimated in countries
Answer: Vicious
Question: Which of these planning is regarded as the French system of planning?
Answer: Imperative Planning
Question: If an increase in per capita income doesn’t increase the standard of living, then which is true?
Answer: People may have increased the rate of saving
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