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Economics 1984 JAMB Past Questions

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31
One of the major effects of an increase in government expenditure on a nation’s economy is that it?
  • A. creates investment opportunities for foreign investors
  • B. leads to indigenization of the private sector
  • C. raises the level of total tax revenue
  • D. raises the level of aggregate demand
  • E. controls the spread of monopoly
View Answer & Discuss (1) JAMB 1984
32
Public expenditure on services, such as education and health, is known as expenditure on
  • A. general services
  • B. community services
  • C. social services
  • D. economic services
  • E. administrative services
View Answer & Discuss (2) JAMB 1984
33
Question 39 and 40 are based on the table below:

The international production set for Nigeria and Austria is:
\(\begin{array}{c|c}
Products & Nigeria & Austria \\
\hline
Cocoa & 20 \text{tonnes} & 12 \text{tonnes}\\
\hline
Lace & 10 \text{meters} & 8 \text{meters} \\
\end{array}\)

The opportunity cost ratio for cocoa and lace for Austria and Nigeria is
  • A. 2,2
  • B. 2,1.5
  • C. 1.5,4
  • D. 1.5,2
  • E. 0.5,1.5
View Answer & Discuss (3) JAMB 1984
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34
The international production set for Nigeria and Austria is:

\(\begin{array}{c|c}
Products & Nigeria & Austria \\
\hline
Cocoa & 20 \text{tonnes} & 12 \text{tonnes}\\
\hline
Lace & 10 \text{meters} & 8 \text{meters} \\
\end{array}\)

from the table, it can be deduced that?
  • A. Nigeria should produce cocoa and lace
  • B. Austria should produce cocoa and lace
  • C. Nigeria can benefit from producing lace only
  • D. Nigeria should not produce any of the products because of her relative disadvantages
  • E. Austria should produce lace and Nigeria should produce cocoa
View Answer & Discuss (4) JAMB 1984
35
The following except ONE, are the differences between international trade and internal trade?
  • A. Diferences in currencies
  • B. Government control
  • C. Mobility of factors of production
  • D. Cultural differences
  • E. Exchange of Goods and services
View Answer & Discuss (11) JAMB 1984
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