2006 - JAMB Economics Past Questions & Answers - page 1

1
Economic growth can be accelerated through
A
excess current consumption
B
excess consumption over investment
C
increased current consumption
D
increased current investment
CORRECT OPTION: d
2
An association formed by a group of individuals solely for the marketing of their product is a
A
credit and thrift society
B
consumer cooperative society
C
producer cooperative society
D
voluntary organization
CORRECT OPTION: c
3
The exchange rate determined by market forces is known as
A
pegged exchange rate
B
floating exchange rate
C
fixed exchange rate
D
dual exchange rate
CORRECT OPTION: b
4
Import substitution policy is used to
A
protect local industries
B
check government expenditure
C
correct the balance of payments problem
D
encourage increased volume of trade
CORRECT OPTION: c
5
The organization whose aim is to solve the trade problems of less developed nations is
A
UNCTAD
B
OECD
C
UNECA
D
WTO
CORRECT OPTION: a
6
Mobility of labour is higher when there
A
is a monopoly of jobs in one location
B
is intense competition for jobs in the same location
C
are alternative jobs in the same location
D
are no alternative jobs in the same location
CORRECT OPTION: c
7
A major advantage of industrialization is that it
A
leads to self-reliance
B
curbs inflation
C
leads to growth and development
D
improves the terms of trade
CORRECT OPTION: c
8
The oil-producing area in Nigeria are agitating for special compensation owing mainly to
A
the high level of poverty
B
the high level of unemployment
C
constant flooding
D
environmental pollution
CORRECT OPTION: d
9
If children and the aged dominate the population of a country, this results in
A
a reduction in the importation of capital goods
B
a fall in the standard of living
C
an increase in the national income
D
an improvement in the standard of living
CORRECT OPTION: a
10
A major factor militating against rapid industrialization in Nigeria is
A
inadequate skilled manpower
B
poor market facilities
C
poor transport facilities
D
epileptic power supply
CORRECT OPTION: d
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