The Only Two African Countries to Remain Free from Colonization

question 7

Multiple Choice

The only two African countries to remain free from colonization were

• A) Kenya and Somalia.
• B) Ethiopia and Morocco.
• C) Libya and Morocco.
• D) Liberia and Ethiopia.
• E) Kenya and Ethiopia.

Grasp the concept of value added in the production process.

Know the differences between GDP, NDP, GNP, and other economic measures.

Understand the treatment of exports and imports in GDP calculations.

Appreciate the role of investment, including net and gross investment, in the economy.

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Definitions:

Banking System

denotes the network of institutions that provide financial services, including deposits, loans, and currency exchanges.

Collection Float

The time difference between when a check is deposited into a bank account and when the funds are made available.

Availability Delay

The lag time between when a deposit is made into an account and when the funds become available for use.

Collection Float

The time difference between when a check is deposited into a bank account and when the amount is credited to the account, affecting the cash flow.