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Economics Past Questions

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191

The difference between visible exports and invisible exports of a country, in money terms, is known as the?

  • A. Balance of trade
  • B. Balance of payments
  • C. Terms of trade
  • D. Foreign reserves
  • E. Special drawing right
View Answer & Discuss (7) JAMB 1982
192

The main economic goal of ECOWAS is the attainment of ?

  • A. regional free trade
  • B. Multilateral trade
  • C. bilateral trade
  • D. economic self-reliance
  • E. The economic emancipation of Africa
View Answer & Discuss (2) JAMB 1982
193
Taxes which are levied on a person’s expenditures are known as?
  • A. Purchase tax
  • B. Sales tax
  • C. Direct tax
  • D. Poll tax
  • E. Income tax
View Answer & Discuss (1) JAMB 1982
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194
some of major problems hindering economic development in west Africa are in the areas of electricity supply, communication, educations and health. These items are known in Economics as?
  • A. development projects
  • B. infrastructural facilities
  • C. monoculture
  • D. capital investment
  • E. superstructure
View Answer & Discuss (1) JAMB 1982
195

The equilibrium market price is determined at a point where?

  • A. consumers can buy all they desire
  • B. sellers can dispose of all their wares
  • C. the price is moderate
  • D. quantity consumers desires equal quantity sellers offer
  • E. sellers and buyers are not quarrelling
View Answer & Discuss (2) JAMB 1982
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