Jamb Economics 1987 Past Questions and Answers

Question 36:

• JAMB 1987

The money which government spends yearly for the maintenance of its school is?

A. Used only for wages and salaries
B. Part of the government's capital expenditure
C. Part of the government's recurrent expenditure
D. The government's budget for its school

Question 37:

• JAMB 1987

Which of the following applies to a commodity sold abroad at a price lower than that in the producing country?

A. Dumping
B. Counter-trade
C. Bilateral trade
D. Trade liberalization

Question 38:

• JAMB 1987

The rate of exchange between a domestic and a foreign currency is defined as the?

A. Terms of trade
B. Domestic currency price of a unit of the foreign currency
C. Foreign currency price of gold
D. Domestic currency price of gold

Question 39:

• JAMB 1987

Which of the following best explains the structural changes in the population of a country?

A. Positive changes in the size and ethnic composition of the population
B. A decrease in the size of the population
C. An increase in the birth rate which is higher than the decrease in the death rate
D. Changes in the age, sex and occupational composition of the population

Question 40:

• JAMB 1987

Statistical information available in most West African countries suggests that?

A. The marginal propensity to save is high
B. The marginal propensity to consume is high
C. The consumption pattern is negative
D. There exists perfect correlation between consumption and savings