International Trade - Jamb Economics Past Questions and Answers

Question 151:

• JAMB 2008

The exports-promotion strategy is aimed at producing

A. Consumer goods originally imported
B. Machinery for industries
C. More goods for exports
D. More goods domestic consumption

Question 152:

• JAMB 2009

According to the theory of comparative advantage specialization will result in

A. Labour-intensive method of production
B. Capital-intensive method of production
C. Efficient allocation of resources
D. Efficient distribution of output

Question 153:

• JAMB 2009

Dumping in international trade means selling a goods at a

A. Higher price at home than abroad
B. Lower price at home than abroad
C. Price that equates marginal cost with marginal revenue
D. Price above marginal cost abroad

Question 154:

• JAMB 2010

One of the characteristics of free trade zone is

A. Common tariff against non-member countries
B. Different trade policies of non-member countries
C. Free factor mobility within the zone
D. Harmonized trade among member countries

Question 155:

• JAMB 2010

If Nigeria imports vehicles from Japan the transaction will appear as a

A. Debit on Japan's balance of payments
B. Credit on Japan's balance of payments
C. Credit on Nigeria's balance of trade
D. Credit on Nigeria's balance of payment