Question 536:

• JAMB 1980

The terms of trade are said to be favorable only if

A. Value of total exports equals value of total imports
B. Value of merchandise exports is greater than value of merchandise imports
C. There are no balance of payments problems
D. There is an increase in the value of a unit of export in terms of imports
E. Foreign exchange reserves do not change

Question 537:

• JAMB 1980

If the government is interested in raising the highest revenue from a tax system, then for any two commodities

A. It is better to tax one whose demand is more elastic
B. It is better to tax one whose demand is more inelastic
C. Revenue will be the same from both commodities
D. It is not possible to say which will yield higher revenue
E. Government cannot make much revenue from taxing commodities

Question 538:

• JAMB 1981

'Choice arises because of scarcity of resources',In discussing this statement, Which of the following is NOT correct?

A. Human wants are numerous but the resources needed to satisfy them are limited
B. Given numerous wants and limited resources only individuals and businesss firms make choice
C. The process of making a choices involves opportunity cost
D. An economist is not interested morality or otherwise of any choice so made
E. Usually choice is made from a list of wants compliled in the context of a scale of preference

Question 539:

• JAMB 1981

'Choice arises because of scarcity of resources',In discussing this statement, Which of the following is NOT correct?

A. Human wants are numerous but the resources needed to satisfy them are limited
B. Given numerous wants and limited resources only individuals and businesss firms make choice
C. The process of making a choices involves opportunity cost
D. An economist is not interested morality or otherwise of any choice so made
E. Usually choice is made from a list of wants compliled in the context of a scale of preference

Question 540:

• JAMB 1981

Which of the following alternatives will NOT assist in checking the population growth in West Africa countries?

A. Immigration
B. Brith control measures, e.g. use of contraceptives
C. Late marriage
D. Creating more educational opportunities for women
E. Sex education