Waec Model Questions Vol1 2021 Government Question 42
Practice objective / multiple choice question 42 from the 2021 Waec Model Questions Vol1 Government examination.
Nigeria signs two bilateral trade agreements. Agreement A reduces the tariff on Nigerian exports to Country A by 15% and raises the import tariff on goods from Country A by 10%. Agreement B imposes a fixed duty of $2 million on imports from Country B but gives a subsidy of $1.5 million to Nigerian exporters to Country B. Baseline trade values are: exports to A = $200 million, imports from A = $150 million; exports to B = $120 million, imports from B = $180 million. Assuming the tariff changes affect the monetary values directly, what is the net change in Nigeria's trade revenue (export earnings minus import payments) after both agreements?
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About This Question
This is Waec Model Questions Vol1 2021 Government Question 42. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Government examination.
Difficulty level: Hard .
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