Post Utme Ksu 2024 Economics Question 16

Practice objective / multiple choice question 16 from the 2024 Post Utme Ksu Economics examination.

Post Utme Ksu 2024 Economics Objective / Multiple Choice
Question 16 POST_UTME_KSU • 2024 • ECONOMICS • objective

The government of Nigeria has introduced a new policy to promote agricultural production. The policy includes a subsidy on fertilizers and a guaranteed minimum price for crops. However, the policy also includes a tax on agricultural land. Which of the following is a likely consequence of this policy?

Answer Options

A. An increase in agricultural production
B. A decrease in agricultural production
C. No change in agricultural production
Correct Answer D. An increase in agricultural production in the short run but a decrease in the long run
Correct Answer
D
Correct Option:
An increase in agricultural production in the short run but a decrease in the long run

About This Question

This is Post Utme Ksu 2024 Economics Question 16. It is one of the objective questions from the 2024 Post Utme Ksu Economics examination.

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