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Economics 1993 JAMB Past Questions

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36
Which of the following are the advantages of Nigeria's membership of ECOWAS? i A greater opportunity for trade according to comparative cost advantage.
ii A large market industries producing under condition of decreasing cost.
iii Competition for home based monopoly firms
  • A. i and ii only
  • B. i and iii only
  • C. ii and iii only
  • D. i,ii and iii
View Answer & Discuss JAMB 1993
37
Comparative advantage implies that a country will specialize in producing the commodity?
  • A. with the highest opprotunity cost
  • B. for which output per worker is lower than in other countries
  • C. with the lowest opportunity cost
  • D. for which output per worker is the same with those of other countries
View Answer & Discuss JAMB 1993
38
Devaluation is effective when?
  • A. demand for imports is price inelastic
  • B. demand for imports is neutral
  • C. production for export is low
  • D. demand for exports is price elastic
View Answer & Discuss JAMB 1993
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39
From which of the following does Nigeria derive trade concessions?
  • A. IMF
  • B. World Bank
  • C. ADB
  • D. EEC
View Answer & Discuss (1) JAMB 1993
40
Tariff on imports are meant to?
  • A. prevent a foreign goods
  • B. discourage exports
  • C. encourage exports
  • D. increase the level of external dependency
View Answer & Discuss (5) JAMB 1993
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