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Economics 2000 JAMB Past Questions

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36
Public debt is composed of?
  • A. internal debts and World Bank loans
  • B. money owed to local and foreign contractors
  • C. internal and external debts
  • D. loans granted by IMF and ADB
View Answer & Discuss JAMB 2000
37
A country exporting mainly primary products and with a high percentage of her labour force in agriculture is said to be?
  • A. developing
  • B. developed
  • C. poor
  • D. underdeveloped
View Answer & Discuss (1) JAMB 2000
38
A country's import price index by 1995 was 50 and her index of export price was 70. Calculate the terms of trade?
  • A. 20%
  • B. 71%
  • C. 120%
  • D. 140%
View Answer & Discuss (2) JAMB 2000
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39
If the United Kingdom buys gold for $60 an ounce and Nigeria buys the same ounce for N500, what will be United Kingdom's exchange rate with Nigeria?
  • A. $0.05 = N1.00
  • B. $0.06 =N1.00
  • C. $0.11 =N1.00
  • D. $0.12 =N1.00
View Answer & Discuss (4) JAMB 2000
40
Being a member of the OPEC, Nigeria is in a favorable position to?
  • A. export her crude oil
  • B. control world crude oil prices
  • C. reap the benefit of a cartel
  • D. borrow money from members
View Answer & Discuss (3) JAMB 2000
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