a) Distinguish between the following economic concepts with illustrations:

                       (i) A tariff and a quota

                       (ii) An ad valorem tax and a specific tax

b. Explain any four (4) restrictions on international trade.

c. Explain any four (4) fiscal measures that a country can take to solve the problem of persistent balance of     payments deficit?

d. Explain four (4) disadvantages of this method of estimating national income?

e. Explain two (2) causes each of i. Demand pull inflation ii. Cost push inflation.

f. Outline three (3) ways of financing the budget deficit.

g. Explain with examples, any four (4) monetary policy instrument that can be used to engage in a contractionary policy.

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