Jamb Economics 1981 Past Questions and Answers

Question 46:

• JAMB 1981

Which of the following is NOT a visible iterm in international trade payments?`

A. Payments for imported cars
B. Receipts from coca exports
C. Payments to foreign shipping companies
D. Payments for steel imports
E. Payments for petroleum imports

Question 47:

• JAMB 1981

Market for Garri: At a price of N5, the excess supply is`

A. 30 tins per week
B. 45 tins per week
C. 15 tins per week
D. 20 tins per week
E. Indeterminate

Question 48:

• JAMB 1981

If P₈ and P₉ represent the population of West African in 1978 and 1979 respectively, and given that in 1979.
D= number of deaths, B= number of births, I= number of immigrants, E= number of Emigrants. Then the size of the population in 1979 is given by

A. P₉ = P₈ + D - B = I - E
B. P₉ = P₈ + B - D + I - E
C. P₉ =P₈ + B - D + E - I
D. P₉ = B - D + I - E
E. P₉ = P₈ + B + D + I + E

Question 49:

• JAMB 1981

A movement along a given demand curve for a good is caused by a change in

A. A consumer income
B. The price of the good
C. Taste
D. The prices of other goods
E. Population

Question 50:

• JAMB 1981

External economies are

A. The advantage accuring to a firm as a result of its expansion
B. The advantages accuring to one firm as a result of the existence of other firms in the same locality
C. Benefits derived by a firm as a result of its own individual policy
D. Reaped only by agricultural firms
E. Bound to increase the costs of production whatever the circumstances