Jamb Economics Past Questions and Answers

Question 1771:

• 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

Question 1772:

• JAMB 2006

Import substitution policy is used to

A. Protect local industries
B. Check government expenditure
C. Correct the balance of payments problem
D. Encourage increased volume of trade

Question 1773:

• JAMB 2006

The organization whose aim is to solve the trade problems of less developed nations is

A. UNCTAD
B. OECD
C. UNECA
D. WTO

Question 1774:

• JAMB 2006

Mobility of labour is higher when there

A. Is a monopoly of jobs in one location
B. Is intense competition for jobs in the same location
C. Are alternative jobs in the same location
D. Are no alternative jobs in the same location

Question 1775:

• JAMB 2006

A major advantage of industrialization is that it

A. Leads to self-reliance
B. Curbs inflation
C. Leads to growth and development
D. Improves the terms of trade