International Trade - Jamb Economics Past Questions and Answers

Question 81:

• JAMB 1989

International and inter-regional trade differ primarily because?

A. Comparative advantage is relevant to the former but not to the latter
B. Products flow across national boundaries
C. There are different resources supplies among countries of the world
D. Of regulation from GATT

Question 82:

• JAMB 1989

The amount, N4.08 million, shown as balance in the table represents

A. Terms of payments
B. Balance on current accounts
C. Balance of trade
D. Terms of trade

Question 83:

• JAMB 1990

If the same basket of goods which cost N12.00 in 1985 cost N15.00 in 1987, price index for 1987 is?

A. 25
B. 80
C. 100
D. 125

Question 84:

• 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 85:

• 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