Economics 1992 Jamb Past Questions and Answers

Question 41 :

• JAMB 1992

When a foreigner on a visit to Nigeria pays for hotel accommodation and meals with some foreign currency,the amount paid should be recorded in Nigeria's balance of payment as an item of?

A. Nigeria's invisible export trade
B. Nigeria's import trade
C. Nigeria's invisble trade
D. Foreign capital inflow into Nigeria

Question 42 :

• JAMB 1992

The Nigerian Trust Fund is managed on behalf of Nigeria by the?

A. World Bank
B. International Monetary Fund
C. African Development Bank
D. Economic Commission for Africa

Question 43 :

• JAMB 1992

One of the gains by member states of the Economic Community of West Africa?

A. Monocultural dependency
B. Trade creation
C. Trade inversion
D. Economic independency

Question 44 :

• JAMB 1992

In the diagram, the profit maximizing output is

A. Q₁ while 1 = AC and II = MC
B. Q₁, while l = MC and ll = AC
C. Q₂, while l = MC and ll AC
D. Q₃, while l = AC and ll = MC

Question 45 :

• JAMB 1992

if in the graph, it is assumed that the price is initially P₁, it can be deduced that price will

A. Fall because there is a surplus
B. Remain constant because it is the equilibrium price
C. Rise because there is a shortage
D. Double