1994 - JAMB Economics Past Questions and Answers - page 5
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
correct option: a
Users' Answers & Comments42
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
correct option: a
Users' Answers & Comments43
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
correct option: c
Users' Answers & Comments44
A
I
B
J
C
K
D
L
correct option: b
Users' Answers & Comments45
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
correct option: b
Users' Answers & Comments
47
A
increase demand and restrict supply
B
restrict demand and decrease supply
C
increase demand and decrease supply
D
decrease demand and increase supply
correct option: c
Users' Answers & Comments48
A
rise his profits and lower his, costs
B
discourage buyers from cheating
C
determine what he will produce
D
set his price to maximize his profit
correct option: a
Users' Answers & Comments49
\(\begin{array}{c|c}
\text{Price N} & \text{Quantity sold} \
5 & 15 \\ 5 & 16 \\ 5 & 17 \\ 5 & 18 \\ \end{array}\)
Marginal revenue is
\text{Price N} & \text{Quantity sold} \
5 & 15 \\ 5 & 16 \\ 5 & 17 \\ 5 & 18 \\ \end{array}\)
Marginal revenue is
A
N5
B
N6
C
N8
D
N10
correct option: a
Users' Answers & Comments50
Cross elasticity of demand can be mathematically expressed as the
A
\(\frac{\text{% change in quantity of commodity X}}{\text{% change in quantity of commodity Y}}\)
B
\(\frac{\text{% change in quantity demanded}}{\text{% change in price}}\)
C
\(\frac{\text{% change in quantity demanded of commodity X}}{\text{% change in price of commodity Y}}\)
D
\(\frac{\text{% change in quantity demanded}}{\text{% change in income}}\)
correct option: c
Users' Answers & Comments