International Trade - Jamb Economics Past Questions and Answers

Question 11:

• JAMB 2016

Which of the following can cause oil glut in the International market?

A. Excess demand over supply
B. Under- capacity utilization
C. Excess supply over demand
D. Economic boom

Question 12:

• JAMB 2016

A country's terms of trade can be improved by________?

A. Revaluation of currency
B. Collective bargaining
C. Reducing demand for imported goods
D. Imposing lower export duties

Question 13:

• JAMB 2016

If Nigeria has comparative advantage over Ghana in producing cocoa, this means_________?

A. Nigeria produces cocoa more cheaply than Ghana
B. Nigeria and Ghana produce at the same level
C. Ghana produces cocoa more than Nigeria
D. Nigeria produces more cocoa than Ghana

Question 14:

• JAMB 2015

The theory of comparative cost advantage is associated with

A. Adam Smith
B. Reverend Thomas Malthus
C. Professor trum fisher
D. David Ricardo

Question 15:

• JAMB 2015

The term of trade can be expressed as

A. (Price index of export à· Price index of export)à— 100
B. (price index of import ÷ price index of export) × 100
C. (Price index of export à· Price index of import)à— 100
D. (Price index of export à· Price index of import)à— 100