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Economics 1997 JAMB Past Questions

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41
Which of the following classes of goods accounts for largest proportion of Nigeria's imports?
  • A. Food and animal products
  • B. Consumers goods
  • C. Chemicals
  • D. Machinery and transport equipment
View Answer & Discuss JAMB 1997
42
Counter trading is an international arrangement whereby?
  • A. goods and services are exchanged in a manner similar to barter
  • B. goods and services are sold on the counter
  • C. crude oil is sold to a foreign country
  • D. goods are shipped to countries on which the United Nations has placed a trade embargo
View Answer & Discuss JAMB 1997
43
In recent years, Nigeria's balance of payments has continued to register a deficit due to (i) increased government overseas' spending.
(ii) increasing prices of exports.(iii) rising import prices .(iv)more payment to overseas' investors.
  • A. i, ii and iii
  • B. i, ii and iv
  • C. i, ii, iii and vi
  • D. i, ii, iii and iv
View Answer & Discuss (3) JAMB 1997
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44
The organization which provides credit to help countries achieve short-term balance in their balance of payment is the?
  • A. Economic Community of West Africa States
  • B. International Monetary Fund
  • C. International Bank for Reconstruction and Development
  • D. African Develoment Bank
View Answer & Discuss JAMB 1997
45
An important feature of a cartel is that?
  • A. members do not reduce price below the cartel price
  • B. each member has a fixed output above which it is not expected to produce
  • C. a powerful member fixes the price at which others will sell
  • D. membes fix the prices for their products
View Answer & Discuss JAMB 1997
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