Post Utme Pan Atlantic University 2018 Economics Question 3

Practice objective / multiple choice question 3 from the 2018 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2018 Economics Objective / Multiple Choice
Question 3 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2018 • ECONOMICS • objective

The government of Nigeria has implemented a policy to increase the production of rice. The policy includes providing subsidies to farmers and increa\sing the import duty on rice. What is the likely effect of this policy on the domestic price of rice?

Answer Options

A. The domestic price of rice will decrease.
Correct Answer B. The domestic price of rice will increase.
C. The domestic price of rice will remain the same.
D. The domestic price of rice will fluctuate.
Correct Answer
B
Correct Option:
The domestic price of rice will increase.

About This Question

This is Post Utme Pan Atlantic University 2018 Economics Question 3. It is one of the objective questions from the 2018 Post Utme Pan Atlantic University Economics examination.

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