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Economics 1989 JAMB Past Questions

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36
By using exchange controls, a country tries to eliminate a balance of payments deficit by?
  • A. limiting her imports to its currency value of exports
  • B. reducing the nation's domestic price level
  • C. limiting her exports to its currency value of imports
  • D. overvaluing the country's currency
View Answer & Discuss (2) JAMB 1989
37
The law of comparative advantage states that a country should specialize in the production of a commodity
  • A. for which local demand is greatest
  • B. in which its oportunity cost is lower than that of the trade partner
  • C. for which foreign demand is greatest
  • D. for which there is abundant supply of raw materials
View Answer & Discuss (1) JAMB 1989
38
International and inter-regional trade differ primarily because?
  • A. comparative advantage is relevant to the former but not to the latter
  • B. products flow across national boundaries
  • C. there are different resources supplies among countries of the world
  • D. of regulation from GATT
View Answer & Discuss JAMB 1989
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39
Optimum population is the population level at which?
  • A. death rate is at a minimum
  • B. per capita income is at a maximum
  • C. population is at a maximum
  • D. death rate is equal to birth rate
View Answer & Discuss JAMB 1989
40
The group of people engaged in banking or insurance services by occupational distributions are classified as?
  • A. primary producers
  • B. secondary producers
  • C. tertiary producers
  • D. technical producers
View Answer & Discuss JAMB 1989
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