International Trade - Jamb Economics Past Questions and Answers

Question 156:

• JAMB 2011

During the era of barter, money was generally in the form of

A. Notes
B. Precious metals
C. Coins
D. Commodities

Question 157:

• JAMB 2011

The record of a country's transactions in international trade is her

A. Capital account
B. Balance of payments
C. Current account
D. Balance of trade

Question 158:

• JAMB 2011

A condition in which official and autonomous exchange rate coexist is

A. Dual exchange rate system
B. Managed floating rate system
C. Market determined exchange rate system
D. Multiple exchange rate system

Question 159:

• JAMB 2011

Trade takes place because of

A. Marginal utility
B. Inefficiency in production
C. Opportunity cost
D. Comparative advantage

Question 160:

• JAMB 2012

An emerging agricultural export crop in Nigeria is

A. Cassava
B. Cotton
C. Cocoa
D. Soya beans