Jamb Economics 1986 Past Questions and Answers

Question 41:

• JAMB 1986

Tax incidence is the analysis of?

A. How progressive a tax is
B. How a tax is collected
C. Hw distorting a tax is
D. Who ultimately pays the tax

Question 42:

• JAMB 1986

In international trade, a country specializes in the production of a commodity or group of commodities for which it has?

A. A buoyant market
B. Plenty of raw materials
C. The greatest relative advantage
D. Executive manpower

Question 43:

• JAMB 1986

Balance of payment deficit in Nigeria CANNOT be solved by

A. Importing more goods and services
B. Devaluation of the currency
C. Imposing import duties
D. Imposing import bans on some commodities

Question 44:

• 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 45:

• 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