Question 396:

• JAMB 1978

Which is an example of an invisible item in the trade Account of Ghana?

A. Export of Cocoa from Ghana
B. Import of oil from Nigeria
C. A gift of a Peugout 504 by a firm in Nigeria to a firm in Ghana
D. Payment for shipping and insurance by a Ghanaian company to companies outside Ghana
E. None of the above

Question 397:

• JAMB 1978

Which is NOT a direct effort to increase Agricultural production in Nigeria?

A. Operation feed the Nation
B. Nigerian Youth Service Corps
C. Increased loans to farmers and cooperatives
D. Research in Agric & Extension services
E. Mechanization of Agriculture

Question 398:

• JAMB 1978

If a company doubles all its inputs and discovers that its output is more than doubles, we can say that the company is experiencing

A. Increasing Marginal utility
B. Diseconomies of scale
C. Increasing costs
D. Constant returns to scale
E. Increasing returns to scale

Question 399:

• JAMB 1978

Price control cannot work in Nigeria because

A. The population is too large
B. The policemen hate to arrest people
C. While it is fairly easy to control producers and importing firms, smaller distributors are too many to be controlled
D. Control cannot work under military rule
E. Too many things are produced in the country

Question 400:

• JAMB 1978

The foreign exchange market is a market where

A. Graded commoditties like wheat, flour, etc are sold and bought
B. Currencies are sold and bought
C. Treasury bills are sold and bought
D. Government bonds are sold and bought
E. Treasury certificates are sold