1999 - JAMB Economics Past Questions and Answers - page 5
41
Gains from trade depends on?
A
comparative advantage
B
absolute advantage
C
distributive cost advantage
D
absolute cost advantage
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42
Favorable terms of trade is important to a country because it facilities?
A
economic prosperity for importers and exporters
B
export of hard currency by the government
C
economic prosperity for country
D
import of hard currency by the government
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43
The most acceptable economic measure for trade protection is to?
A
improve standards of living
B
protect infant industries
C
safegard strategic industries
D
promote foreign trade
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44
A
N18,500m
B
19,000m
C
19,500m
D
20,500m
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45
A
0.5
B
2.0
C
2.5
D
5.0.l
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46
A
joint demand
B
derived demand
C
composite demand
D
competitive demand
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47
A
G
B
H
C
J
D
K
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48
A
Do and So D o and S2
B
D1 and S2; D2 and So
C
D2 and S1;D2 and S2
D
D2 and SoDo and S2
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49
A
Technology, weather and population
B
Technology, price and tastes
C
Weather, price and technology
D
Population, weather and teastes
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50
A
5,000,000
B
6,250,000
C
11,750,000
D
12,250,000
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