Jamb Economics 2006 Past Questions and Answers

Question 26:

• JAMB 2006

An association formed by a group of individuals solely for the marketing of their product is a

A. Credit and thrift society
B. Consumer cooperative society
C. Producer cooperative society
D. Voluntary organization

Question 27:

• JAMB 2006

The exchange rate determined by market forces is known as

A. Pegged exchange rate
B. Floating exchange rate
C. Fixed exchange rate
D. Dual exchange rate

Question 28:

• JAMB 2006

Import substitution policy is used to

A. Protect local industries
B. Check government expenditure
C. Correct the balance of payments problem
D. Encourage increased volume of trade

Question 29:

• JAMB 2006

The organization whose aim is to solve the trade problems of less developed nations is

A. UNCTAD
B. OECD
C. UNECA
D. WTO

Question 30:

• JAMB 2006

Mobility of labour is higher when there

A. Is a monopoly of jobs in one location
B. Is intense competition for jobs in the same location
C. Are alternative jobs in the same location
D. Are no alternative jobs in the same location