Post Utme Unilorin 2023 Economics Question 14

Practice objective / multiple choice question 14 from the 2023 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2023 Economics Objective / Multiple Choice
Question 14 POST_UTME_UNILORIN • 2023 • ECONOMICS • objective

The Nigerian government has introduced a new policy to increase the production of rice in the country. The policy includes providing subsidies to farmers and increa\sing the import duty on rice. U\sing the concept of agricultural development, explain why the government's policy may be effective in increa\sing rice production.

Answer Options

Correct Answer A. The policy may be effective because the government's policy may lead to an increase in the quality of rice produced, which may lead to an increase in quantity demanded.
B. The policy may be effective because the government's policy may lead to a decrease in the \cost of production, which may lead to an increase in quantity supplied.
C. The policy may be effective because the government's policy may lead to an increase in the quantity of rice produced, due to the high demand for rice.
D. The policy may be effective because the government's policy may lead to a decrease in the quantity of rice produced, due to the high \cost of production.
Correct Answer
A
Correct Option:
The policy may be effective because the government's policy may lead to an increase in the quality of rice produced, which may lead to an increase in quantity demanded.

About This Question

This is Post Utme Unilorin 2023 Economics Question 14. It is one of the objective questions from the 2023 Post Utme Unilorin Economics examination.

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