Question 736:

• JAMB 1984

Let P _x represent the price of exports and P_m the price of imports. Then the terms of trade (TOT) are said to be favourable if

A. \(\frac{Px}{Pm}\)
B. \(\frac{Px}{Pm}\)=1
C. \(\frac{Px}{Pm}\)>1
D. \(\frac{Px}{Pm}\)+1

Question 737:

• JAMB 1984

In the diagram I refers to the calculation of national income through the

A. Expenditure approach
B. Input - Output approach
C. Flows of funds approach
D. Income approach
E. Output approach

Question 738:

• JAMB 1985

One main quality of a good is that it

A. Is sold in the market
B. Satisfies wants
C. Is made in the factory
D. Is always tangible
E. Is non-perishable

Question 739:

• JAMB 1985

One main quality of a good is that it

A. Is sold in the market
B. Satisfies wants
C. Is made in the factory
D. Is always tangible
E. Is non-perishable

Question 740:

• JAMB 1985

Bisi needs a book costing N10.00 and a hat costing N10.00. If Bisi buys the book instead of the hat, the opportunity cost of his choice is the?

A. Cost of the bok
B. Cost of the hat
C. Book
D. Hat
E. N10.00