Jamb Economics 2004 Past Questions and Answers

Question 21:

• JAMB 2004

The difference between birth and death rates of a given population is referred to as the

A. Mortality rate
B. Fertility rate
C. Natural growth rate
D. Linear growth rate

Question 22:

• JAMB 2004

Fiscal policy is the government's plan to control aggregate demand by manipulating

A. The demand and supply of money
B. Revenue and expenditure
C. Tastes and preferences of consumers
D. The structure of production and employment

Question 23:

• JAMB 2004

A country is said to have absolute advantage when she

A. Has a higher opportunity cost in the production of a good
B. Can sell to other countries without buying from them
C. Can produce more of any good with fewer resources
D. Has a lower opportunity cost in the production of good

Question 24:

• JAMB 2004

The European Union was formed to

A. Promote free trade within member nations
B. Promote economic integration in non-member countries
C. Assist countries to achieve their economic goals
D. Finance development projects in member nations

Question 25:

• JAMB 2004

When the importation of a commodity is limited to a definite quantity, the trade control means used is known as

A. Exchange control
B. Tax relief
C. Devaluation
D. Quotas