Trade - Jamb Commerce Past Questions and Answers

Question 21:

• JAMB 1994

The rate at which a country's exports exchange for its imports is called

A. Balance of payments
B. Balance of trade
C. Terms of payment
D. Terms of trade

Question 22:

• JAMB 1994

The difference between the total payments for imports and the receipts from exports within a given period is referred to as

A. Balance of payments
B. Balance of trade
C. Comparative cost advantage
D. Comparative advantage

Question 23:

• JAMB 1994

One of the effects of the devaluation of the Naira is that the

A. Goods that can be imported with the naira have become cheaper
B. Value of other currencies relative to the naira have become cheaper
C. Goods that can be exported from Nigeria have become costlier
D. Imports that can be bought with the naira have become costlier

Question 24:

• JAMB 1994

The financial institution established to boost Nigeria's trade with the rest of the world is called

A. Nigerian Deposit Insurance Corporation
B. Nigerian Economic Reconstruction Fund
C. Nigerian Industrial Development Bank
D. Nigerian Export-Import Bank

Question 25:

• JAMB 1994

The lake Chad Basin commission was founded to enable member states

A. Expand the volume of water in the lake for fishing activities
B. Increase navigational activities on the lake
C. Dam the lake for electricity and agricultural purposes
D. Co-ordinate their efforts in managing the use of the lake's resources