International Trade - Jamb Economics Past Questions and Answers

Question 141:

• JAMB 2005

A long-term capital outflow is recorded in the balance of payment as a

A. Credit on the capital account
B. Credit on the current account
C. Debit on the current account
D. Debit on the capital account

Question 142:

• JAMB 2005

Applying the law of comparative costs, how many units of groundnuts will Nigeria produce?

A. 7000 units
B. 16000 units
C. 9000 units
D. 8000 units

Question 143:

• JAMB 2005

The difference in each country's total output on specification is

A. 16000 units
B. 9000 units
C. 8000 units
D. 7000 units

Question 144:

• JAMB 2006

Nigeria's exports usually comprise

A. Consumer goods
B. Capital goods
C. Intermediate goods
D. Primary goods

Question 145:

• 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