Waec Model Questions Vol1 2019 Government Question 29
Practice objective / multiple choice question 29 from the 2019 Waec Model Questions Vol1 Government examination.
Nigeria imposes a 15 % tariff on imported wheat. Prior to the tariff, the country imported 2 million tonnes of wheat at a world price of $200 per tonne, spending $400 million. After the tariff is introduced, the world price rises by 5 % and the quantity imported falls by 10 % because of the higher cost. Calculate the percentage change in Nigeria's total expenditure on wheat after the tariff (to two decimal places).
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About This Question
This is Waec Model Questions Vol1 2019 Government Question 29. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Government examination.
Difficulty level: Hard .
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