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Economics 1983 JAMB Past Questions

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21
In the event of a limited liability company going into liquidation each
  • A. shareholder may lose the maximum of the amount he has invested
  • B. shareholder loses nothing
  • C. shareholders loses everything including his house
  • D. shareholder''s liability becomes unlimited
  • E. shareholder will lose the amount he has invested plus a proportion of his bank account
View Answer & Discuss (3) JAMB 1983
22
A greater burden of the taxes on essential goods is borne by the?
  • A. middle income group
  • B. higher income group
  • C. lower income group
  • D. people falling between the middle and higher income groups
  • E. top few richest people of the country
View Answer & Discuss (2) JAMB 1983
23
Comparative cost doctrine of international trade means specialization in production
  • A. according to absolute cost advantage
  • B. according to absolute cost disadvantage
  • C. according to comparative cost disadvantage
  • D. according to comparative cost advantage
  • E. on the basis of the availability of labour
View Answer & Discuss (1) JAMB 1983
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24
The meaning of 'Dumping' is selling goods in a foreign market
  • A. at a low price that recieved in the home market
  • B. at a price higher than that recieved in the foreign market
  • C. at a price equal to the cost price in the home market
  • D. in order to encourage indigenous producers
  • E. at a price equal to the selling price in the home market
View Answer & Discuss (1) JAMB 1983
25
Disequilibrium in the balance of payment means?
  • A. imports of the country exceeding its exports
  • B. overall deficit or surplus in the current account and capital account of the balance of payment
  • C. capital flowing out of the country exceeds the capital flowing into the country
  • D. deficit in the trade balance
  • E. export earnings exceeds cost of imports
View Answer & Discuss JAMB 1983
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