Question 631:

• JAMB 1982

When the import of a commodity is limited to a definite quantity by using a trade control method, this is known as

A. Tariffs
B. Quotas
C. Exchnge control
D. Devaluation
E. Revaluation

Question 632:

• JAMB 1982

Balance of payments of a country explains the overall position of?

A. Current account of the balance of payments
B. Capital account in the balance of payments
C. Both the current and capital acounts
D. Position of the balance of trade
E. Visible and invisible trade

Question 633:

• JAMB 1982

All of the following EXCEPT ONE are normal functions of the marketing board in Nigeria

A. Price stabilization
B. Efficient marketing of agriculture crops
C. Provision of funds for building access roads
D. Development of the agricultural industry
E. Establishment of agro-allied industries

Question 634:

• JAMB 1982

Which of the following countries is NOT a member of the economic Community of West African States?

A. Sierra Leone
B. Sudan
C. Gambia
D. Nigeria
E. Guinea

Question 635:

• JAMB 1982

In Nigeria, a balance of payments deficit can be solved by all of the following EXECPT?

A. Imposing import bans on some commodity
B. Imposing import duties
C. Drawing down on external reserves
D. Purchasing foreign exchanges from foreign countries
E. Devaluation of the currency