Jamb Economics 1997 Past Questions and Answers

Question 41:

• JAMB 1997

The most important factor ensuring economic development is the?

A. Effective mobilization of domestic savings
B. Presence of foreign capital
C. Formulation of appropriate government policies
D. Attraction of foreign aids and grants

Question 42:

• JAMB 1997

Which of the following classes of goods accounts for largest proportion of Nigeria's imports?

A. Food and animal products
B. Consumers goods
C. Chemicals
D. Machinery and transport equipment

Question 43:

• JAMB 1997

Counter trading is an international arrangement whereby?

A. Goods and services are exchanged in a manner similar to barter
B. Goods and services are sold on the counter
C. Crude oil is sold to a foreign country
D. Goods are shipped to countries on which the United Nations has placed a trade embargo

Question 44:

• JAMB 1997

In recent years, Nigeria's balance of payments has continued to register a deficit due to (i) increased government overseas' spending.
(ii) increasing prices of exports.(iii) rising import prices .(iv)more payment to overseas' investors.

A. I, ii and iii
B. I, ii and iv
C. I, ii, iii and vi
D. I, ii, iii and iv

Question 45:

• JAMB 1997

The organization which provides credit to help countries achieve short-term balance in their balance of payment is the?

A. Economic Community of West Africa States
B. International Monetary Fund
C. International Bank for Reconstruction and Development
D. African Develoment Bank