Corrective Of Balance Of Trade And Balance Of Payments - Economics Jamb Past Questions and Answers

Question 6 :

• JAMB 1988

When a nation is experiencing balance of payment surplus, it is in a better position to?

A. Increase its foreign exchange reserves
B. Increase its liabilities to foreigners
C. Reduce its foreign exchange reserves
D. Devalue its national currency

Question 7 :

• 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 8 :

• JAMB 1999

De valuation helps in checking adverse balance of payments if the?

A. Demand for imports is elastic
B. Demand for imports is inelastic
C. Supply of exports is elastic
D. Demand for exports is inelastic

Question 9 :

• JAMB 2002

One way of correcting the balance of payments problem of a country is to?

A. Introduce import-promotion measures
B. Buy investments abroad
C. Devalue the currency
D. De-emphasize import-substitution industries

Question 10 :

• JAMB 2007

One of the ways of correcting a deficit balance of payments is to

A. Revalue a country's currency
B. Devalue a country's currency
C. Increase imports
D. Reduce exports