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
correct option: d
Users' Answers & Comments42
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
correct option: a
Users' Answers & Comments43
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.
(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
correct option: c
Users' Answers & Comments44
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
correct option: b
Users' Answers & Comments45
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
correct option: b
Users' Answers & Comments46
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
correct option: a
Users' Answers & Comments47
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
correct option: a
Users' Answers & Comments48
A
M
B
N
C
H
D
F
correct option: d
Users' Answers & Comments49
A
l
B
ll
C
lll
D
IV
correct option: c
Users' Answers & Comments50
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
correct option: a
Users' Answers & Comments