International Trade - Jamb Economics Past Questions and Answers

Question 101:

• JAMB 1994

In international trade, shipping and other freight charges are treated as?

A. Invisible items
B. Unilateral transfers
C. Capital transactions
D. Autonomous capital transactions

Question 102:

• JAMB 1994

A situation in which a commodity is sold abroad below its cost of production in the home country is known as?

A. Dumping
B. Counter trade
C. Bilateral trade
D. Trade liberalization

Question 103:

• JAMB 1995

The major source of Nigeria's foreign exchange is the export of?

A. Skilled manpower
B. Palm kernel and cocoa
C. Crude oil
D. Groundnuts and cotton

Question 104:

• JAMB 1995

The sharp increase in the prices of most goods and services during the last quarter of 1994 in Nigeria were mainly due to?

A. Ban on importation of foreign goods
B. Population upsurge
C. The introduction of value-added tax
D. Increase in transport costs

Question 105:

• JAMB 1995

Foreign exchange rate in a free market economy is determined by?

A. The government
B. The Central Bank
C. Demand and supply
D. Commercial banks