Question 831:

• JAMB 1986

The term balance of trade, can be defined as the?

A. Relation between value of exports and value of imports over a given period of time
B. Balance owed to the rest of the world in payment for imports
C. Price paid for imports in term of exports
D. Relation between payments of all kind made by a country to the rest of the world, over a given period of time

Question 832:

• JAMB 1986

The term of trade often measured by the ratio of the index of export

A. Divided by the index of import prices multiplied by 100
B. Multiplied by the index of import prices
C. Plus the index of import prices multiplied by 100
D. Minus the index of import prices

Question 833:

• JAMB 1986

A society which forgoes present consumption

A. Is forced to do so because of excessive consumption within the country in the past
B. Is devoting new resources to new capital formation
C. Is merely devoting resources to the replacement of capital
D. Expects to consume only that amount tomorow which was forgone today

Question 834:

• JAMB 1986

ECOWAS will enable the countries involved to achieve

A. Comparative political advantage over other countries not in the region
B. A large market for their products
C. Military superiority over countries not in the region
D. Lower the transportation codt of goods wthin the region

Question 835:

• JAMB 1986

Which of the following methods is most likely to lead an economy?

A. An increase in wages and profits
B. An increase in consumer demand
C. A greater fraction of national Product going into investment
D. A countinuous rise in bank loans