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Economics 1994 JAMB Past Questions

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41
In international trade, shipping and other freight charges are treated as?
  • A. invisible items
  • B. unilateral transfers
  • C. capital transactions
  • D. autonomous capital transactions
View Answer & Discuss JAMB 1994
42
A situation in which a commodity is sold abroad below its cost of production in the home country is known as?
  • A. dumping
  • B. counter trade
  • C. bilateral trade
  • D. trade liberalization
View Answer & Discuss JAMB 1994
43
The borrowing rights of a member country of the international Monetary Fund are determined by?
  • A. the seriousness of the country's economic problems
  • B. its balance of payments position
  • C. its quota to the fund
  • D. the size of gold reserve
View Answer & Discuss JAMB 1994
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44

The diagram represents a production function. At which of the points does diminishing returns set in

  • A. I
  • B. J
  • C. K
  • D. L
View Answer & Discuss (10) JAMB 1994
45
If the economy of the country is operating at X, the implication is that
  • A. the productive capacity is being fully utilized
  • B. the productive capacity is not being fully utilized
  • C. too little of consumer goods is being produced
  • D. there is a disequilibrium between the production of capital and consumer goods
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