Jamb Economics Past Questions and Answers

Question 36:

• JAMB 2019

A permit that allows an importer to bring a certain quantity of foreign goods into a country is_________

A. Import monopoly
B. Import licence
C. Import quota
D. Embargo

Question 37:

• JAMB 2018

The business risks of a public corporation are borne ultimately________

A. By the government
B. By the treasury
C. By the rate payers
D. By the tax payers

Question 38:

• JAMB 2018

Poverty simply refers to the low level of________

A. Planning
B. Per capita income
C. Rich people
D. Labour face

Question 39:

• JAMB 2018

When a member's currency is declared "scarce", it is the duty of the IMF to______

A. Suspend the member state indefinitely
B. Ban all exports from that state
C. Suspend dealings in that currency for one year
D. Ration it among the countries demanding it

Question 40:

• JAMB 2018

Most of the National debts is "dead weight" in the sense that is____

A. Bound to increase from year to year
B. Accumulated as the result of past capital investment
C. The responsibility of the treasury
D. Not covered by any real asset