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Economics Past Questions and Answers

Jamb Economics Questions

Question 41:

Tax incidence is the analysis of?

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A How progressive a tax is
B How a tax is collected
C Hw distorting a tax is
D Who ultimately pays the tax

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Question 42:

In international trade, a country specializes in the production of a commodity or group of commodities for which it has?

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A A buoyant market
B Plenty of raw materials
C The greatest relative advantage
D Executive manpower

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Question 43:

Balance of payment deficit in Nigeria CANNOT be solved by

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A Importing more goods and services
B Devaluation of the currency
C Imposing import duties
D Imposing import bans on some commodities

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Question 44:

The term balance of trade, can be defined as the?

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A Relation between value of exports and value of imports over a given period of time
B Balance owed to the rest of the world in payment for imports
C Price paid for imports in term of exports
D Relation between payments of all kind made by a country to the rest of the world, over a given period of time

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Question 45:

The term of trade often measured by the ratio of the index of export

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A Divided by the index of import prices multiplied by 100
B Multiplied by the index of import prices
C Plus the index of import prices multiplied by 100
D Minus the index of import prices

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