Correct Answer: C. an abnormal demand curve

Explanation

It depicts an abnormal demand. This is a kind of demand that is contrary to the conventional Law of demand:(the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded). From the schedule above, at a price of N1, the quantity demanded was 100 units while as the price rose to N5, the quantity demanded also increased to 200 units. The abnormal demand curve is the demand curve that has a positive slope. That is, an increase in price causes a rise in quantity demanded, and a decrease in prices cause a fall in quantity demanded.

Correct Answer: D. private individuals, organization and the government

Correct Answer: C. an insurance company

Explanation

The factors which influence the level of wages in my country, Nigeria are:

(i)Productivity: The higher the level of production, the higher the level of wages and salary and the lower the level of production, the lower the level of wages.

(ii)Inflation: This can induce employees to demand for increase in the level of wages.

(iii) Rising incomes in key sectors of the economy (e.g. the public sector) can lead to a general increase in wage limits. For example the Federal Government raised the minimum salary of federal workers to N7,500 and all other employers too have to adjust wages and salaries upwards.

(iv) Demand for and supply of labour: If the aggregate demand for labour is low, there is the tendency for the level of wages to fall but if the aggregate demand for labour is high, the level of wages would rise.

(v) Effectiveness of Trade Unions: Activities of trade unions through their bargaining power can lead to increased wage level.

(vi) Technical changes such as improved and more effective process of production will lead to increase in productivity, and ultimately, higher wage rates.

(vii)The quality of labour in terms of skills or training also determines the level of wages or salary attracted. Highly educated and professional workers attract higher level of wages than unskilled workers.

(viii)Condition of the economy: When the economy is buoyant, workers enjoy a high level of wages but when the economy is in recession, wages and salary levels fall.

Correct Answer: B. ability and willingness to pay

Explanation

Effective demand is the desire, backed by willingness and ability, to buy at a given price.

Correct Answer: C. lending our deposits to borrowers

Correct Answer: B. 20%

Correct Answer: C. money with face value higher than its material content

Correct Answer: D) market activities

Explanation

This Economics question is asking about the different factors that can affect the use of GDP or GNP to measure economic well-being. GDP or GNP are commonly used to measure the economic growth of a country. However, there are certain factors that can affect the accuracy of these measurements.

The question is asking to identify the factor that is not an example of a base that can affect the use of GDP or GNP to measure economic well-being. The options given are population growth, price changes, non-market activities, and market activities.

The correct answer is option D, market activities. Market activities are the economic activities that take place in the market and are covered in the calculation of GDP or GNP. Non-market activities, such as household work or volunteer work, are not included in the calculation of GDP or GNP. However, population growth and price changes can affect the calculation of GDP or GNP and can affect the measurement of economic well-being.

To summarize, the answer to this question is option D, market activities, which is not an example of a base in using GDP or GNP to measure economic well-being. For more information, please see the recommended textbooks.

Correct Answer: A. of inadequate basic infrastructure