1991 - JAMB Economics Past Questions and Answers - page 4

31
Personal distribution of income implies?
A
the way in which income is distributed among specific households or spending units
B
the distribution of income according to basic resources
C
dividing income according to industries
D
dividing income between personal taxes, consumption expenditures and savings
correct option: a
Users' Answers & Comments
32
One of the advantages of international trade is that it?
A
increases world output
B
encourages economic independence among nations
C
restricts spread of technical knowledge
D
promotes self-reliance and satisfaction with only what can be produced internally
correct option: a
Users' Answers & Comments
33
there is an improvement in the terms of trade of a country if?
A
a large quantity of exports is given up to obtain a unit of imports
B
the volume of exports is greater than the volume of imports
C
a smaller quantity of exports is given up to obtain a unit of imports
D
the value of exports is greater than the value of imports
correct option: d
Users' Answers & Comments
34
Under flexible exchange rates, a deficit could be corrected by?
A
freezing the gold point
B
appreciation of other currencies
C
removing export subsidies
D
removing tariffs
correct option: b
Users' Answers & Comments
35
The higher the the dependency ratio the?
A
larger the proportion of the employed relative to the unemployed
B
smaller the proportion of the active labour force relative to the inactive
C
smaller the number of the non-working age groups relative to the active labour force
D
lower the birth rate
correct option: b
Users' Answers & Comments
36
The age distribution of a country's population is of economic importance because it affects the?
A
pattern of expenditure
B
size of the army
C
optimum size of firms
D
location of industries
correct option: a
Users' Answers & Comments
37
It is important to measure the National Income of a country because?
A
it is a major determinant of the standard of living
B
it reveals hazards of development like pollution and congestion
C
it reveals the distribution of the citizen's savings in foreign banks
D
its size determines the extent of political stability
correct option: a
Users' Answers & Comments
38
The Gross Domestic Product is defined as the total value of?
A
all final goods and services produced in a country during the year
B
all assets of a country in a particular year
C
exports net of total value of imports
D
all receipts
correct option: a
Users' Answers & Comments
39
In the national income and product accounts, double counting is avoided if?
A
only final goods counted
B
only intermediate goods are counted
C
only intermediate and final goods are counted
D
the value of all goods and services are added together
correct option: a
Users' Answers & Comments
40
If W stands for wages/salaries, P for profit, R for interest and Z for rent on land real estate, then national income is?
A
W -P - R - Z
B
W + P + Z - R
C
P - R - Z + W
D
W + P + R + Z
correct option: d
Users' Answers & Comments
Please share this, thanks: