Vision 2010 and Its Various Successors Have Called for All

question 64

Multiple Choice

Vision 2010 and its various successors have called for all of the following EXCEPT

• A) diversifying Nigeria's export base beyond oil.
• B) central bank autonomy.
• C) rebuilding Nigeria's education system.
• D) encouraging population growth both to support the labor market and to build a domestic market.
• E) meaningful privatization.

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Definitions:

Median Voter

The voter positioned at the median of the preference spectrum, whose choices can represent the most typical or moderate viewpoint in the voting population.

Economically Inefficient

A situation where resources are not allocated in a way that maximizes the total benefit to society, often resulting in wasted or misallocated resources.

Voter Failure

A situation where voters are uninformed or make irrational decisions, leading to outcomes not reflecting the true preferences of the majority.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; every good or service is produced up to the point where the last unit provides a utility level equal to the cost of producing it.