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Economics 1985 JAMB Past Questions

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31
Tax which is levied on goods manufactured, sold or used within a country is?
  • A. sales tax
  • B. excise tax
  • C. direct tax
  • D. income tax
  • E. poll tax
View Answer & Discuss JAMB 1985
32
By terms of trade, we mean the?
  • A. ratio of exports and imports
  • B. differences between exports and imports
  • C. differences between current account and capital account
  • D. index of export prices to import prices expressed as a percentage
  • E. ratio of short-term capital movements to long-term capital movements
View Answer & Discuss (9) JAMB 1985
33
The argument of tariff protection in less developed economies is that such a measure would
  • A. raise the price of goods affected abroad
  • B. make consumers pay a higher price for the domestically produced output
  • C. protect young industries from ruinous competition from abroad
  • D. help reduced excess capacity in domestic industries
  • E. stifle private investment intiatives
View Answer & Discuss (2) JAMB 1985
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34
Devaluation of the naira as a condition for the international Monetary Fund 'loan' is considered inadvisable because?
  • A. it would allowed for more money to be spent on luxuries
  • B. the interest rate on the loan will increase
  • C. it would decrease the demand for Nigeria's exports
  • D. it would worsen Nigeria foreign exchange situation
  • E. Nigerias oil would sell less in the world market
View Answer & Discuss JAMB 1985
35
Foreign exchange control in Nigeria is administered by the?
  • A. United Bank for Africa
  • B. Union Bank of Nigeria
  • C. First Bank Of Nigeria
  • D. Central Bank of Nigeria
  • E. Natonal Bank of Nigeria
View Answer & Discuss JAMB 1985
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