Jamb Economics 1984 Past Questions and Answers

Question 36:

• JAMB 1984

The following except ONE, are the differences between international trade and internal trade?

A. Diferences in currencies
B. Government control
C. Mobility of factors of production
D. Cultural differences
E. Exchange of Goods and services

Question 37:

• JAMB 1984

Which of the following items does NOT belong to a country's current account in the balance of payments accounts?

A. Merchandise exports
B. Merchandise import
C. Travel
D. Foreign currencies
E. Insurance services

Question 38:

• JAMB 1984

Which of the following is NOT a feature of economic underdevelopment of a country?

A. A large number of High income earners relative to the population
B. High annual income for the few
C. High incidence of poverty
D. Low daily calorie intake per person
E. High infant mortality rate

Question 39:

• JAMB 1984

Given the present state of the Nigeria economy,which of the following measures will promote more rapid economic development?

A. Complete dependence on oil exports
B. Concentration on agricultural exports
C. Diversification of the economy
D. Building of more schools and universities
E. Introductionn of nuclear energy in Nigeria

Question 40:

• JAMB 1984

Which of the following does NOT represent the behavior of a monopolist?

A. Manipulating the market price of his goods
B. Manipulating both the price and quantity of his goods at the same time
C. Raising the price at one market, lowering it at another market
D. Manipulating only quantity, price being a given factor
E. Manipulating the quantity of his goods