1997 - JAMB Economics Past Questions and Answers - page 5
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
Ask EduPadi AI for a Detailed Answer
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
Ask EduPadi AI for a Detailed Answer
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
Ask EduPadi AI for a Detailed Answer
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
Ask EduPadi AI for a Detailed Answer
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
Ask EduPadi AI for a Detailed Answer
46
A
reaching full employment but not full prodduction
B
attaining full production but not full employment
C
under capitalized
D
attaining both full employment and full production
Ask EduPadi AI for a Detailed Answer
47
A
an improvement in capital goods technology but not in consumer goods technology
B
a movement from unemployment to full employment
C
that the output for the society has declined
D
a gain in consumer goods technique and not in capital goods technique
Ask EduPadi AI for a Detailed Answer
48
A
M
B
N
C
H
D
F
Ask EduPadi AI for a Detailed Answer
49
A
l
B
ll
C
lll
D
IV
Ask EduPadi AI for a Detailed Answer
50
Given that at the beginning of 1973, Nigeria with a birth rate of 3% per annum had a population of 75million. This implied that in that year
A
The population increased by 2.25million
B
There were 2.25 million live births
C
The government have to make provisions for 2.25 million children
D
2.25 million - children were born
Ask EduPadi AI for a Detailed Answer