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Economics 1986 JAMB Past Questions

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41
In international trade, a country specializes in the production of a commodity or group of commodities for which it has?
  • A. a buoyant market
  • B. plenty of raw materials
  • C. the greatest relative advantage
  • D. executive manpower
View Answer & Discuss JAMB 1986
42
Balance of payment deficit in Nigeria CANNOT be solved by
  • A. importing more goods and services
  • B. devaluation of the currency
  • C. imposing import duties
  • D. imposing import bans on some commodities
View Answer & Discuss JAMB 1986
43
The term balance of trade, can be defined as the?
  • A. relation between value of exports and value of imports over a given period of time
  • B. balance owed to the rest of the world in payment for imports
  • C. price paid for imports in term of exports
  • D. relation between payments of all kind made by a country to the rest of the world, over a given period of time
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44
The term of trade often measured by the ratio of the index of export
  • A. divided by the index of import prices multiplied by 100
  • B. multiplied by the index of import prices
  • C. plus the index of import prices multiplied by 100
  • D. minus the index of import prices
View Answer & Discuss (2) JAMB 1986
45
A society which forgoes present consumption
  • A. is forced to do so because of excessive consumption within the country in the past
  • B. is devoting new resources to new capital formation
  • C. is merely devoting resources to the replacement of capital
  • D. expects to consume only that amount tomorow which was forgone today
View Answer & Discuss JAMB 1986
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