Post Utme Nile University 2024 Economics Question 14
Practice objective / multiple choice question 14 from the 2024 Post Utme Nile University Economics examination.
A country with a fixed exchange rate has a trade deficit of ₦1000. The country's import demand function is given by \( MD = 100 - 2P \), where ( P ) is the price of imports in domestic currency. The country's export supply function is given by \( ES = 50 + 3P \). Assuming the initial price of imports is 50, calculate the change in trade deficit if the price of imports increases by 10.
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About This Question
This is Post Utme Nile University 2024 Economics Question 14. It is one of the objective questions from the 2024 Post Utme Nile University Economics examination.
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