Jamb Economics 1990 Past Questions and Answers

Question 31:

• JAMB 1990

Under a system of freely floating exchange rates an increase in the international value of a country's currency will cause?

A. Its exports to rise
B. Its imports to rise
C. Gold to flow into that country
D. Its currency to be in surplus

Question 32:

• JAMB 1990

Balance of trade is the difference between?

A. Exports and imports of goods and services
B. Capital inflows and capital outflows
C. Visible and invisible balances
D. Exports and imports of goods

Question 33:

• JAMB 1990

Which of the following is likely to reduce a surplus in the balance of payments of a country?

A. Devaluation
B. Increased tariff on imports
C. Export promotion
D. Currency appreciation

Question 34:

• JAMB 1990

Which of the following is a tariff?

A. Limit on the amount of goods which can be imported
B. Inteest rate on foreign loans
C. Government payment to domestic producers for exports
D. Tax on imported goods

Question 35:

• JAMB 1990

Import duties will increase total expenditure on imports if the demand for imports is?

A. Elastic
B. Inelastic
C. Infinitely elastic
D. Derived