Nigeria would be classified by the International Monetary Fund as
A) a resource-based economy.
B) an emerging market economy.
C) a transition economy.
D) a developing economy.
E) an advanced economy.
D
Economics
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A surplus is said to exist when, at prevailing prices,
A) demand is greater than supply. B) quantity supplied is greater than quantity demanded. C) scarcity is eliminated. D) supply and demand are in harmonic equilibrium.
Economics
If a union wishes to maximize the number of union members employed, it will
A) accept the competitive wage. B) set a wage below the competitive wage. C) set a wage where the elasticity of demand for labor equals one. D) set a wage above the competitive wage.
Economics