2019 - JAMB Economics Past Questions and Answers - page 8

71

One of these is not a problem of agriculture___________

A
provision of employment
B
lack of preservation and storage facilities
C
land tenure system
D
poor transportation systems
correct option: a

Provision or providing productive employment is not among the  problem of agriculture.

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72

The business risks of a public corporation are borne ultimately________

A
by the government
B
by the treasury
C
by the rate payers
D
by the tax payers
correct option: d

Public corporation or public enterprise risks of the business are borne by the government and the tax payers but the tax payer share the greater burden because the money is used to run the business.

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73

Poverty simply refers to the low level of________

A
planning
B
per capita income
C
rich people
D
labour face
correct option: b

The low level of per capital income of a country when the average income of the people in a country is low there will be high poverty and vice versa is known as poverty. 

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74

The oil boom between 1970 - 1980 caused the oil sector to become____________

A
the main source of government
B
management of spillage and pollution
C
protection to the local operators in the petroleum industry
D
decrease in the rate of inflation
correct option: a

What cause the oil sector to become the ministry of the nigeria economy not only in terms of foreign exchange earnings but also the main source of government revenue is the oil booms. 

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75

When a member's currency is declared "scarce", it is the duty of the IMF to______

A
suspend the member state indefinitely
B
ban all exports from that state
C
suspend dealings in that currency for one year
D
ration it among the countries demanding it
correct option: d

What declares a "scarce currency" is the clause provide that if IMF runs out of sticks of a country's currency. which members would be entitled and expected to discriminate against the country's goods in their trade policies.

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