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Thursday, 02 April 2026
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Economics Past Questions and Answers

Jamb Economics Questions

Question 31:
Under a system of freely floating exchange rates an increase in the international value of a country's currency will cause?
  • A Its exports to rise
  • B Its imports to rise
  • C Gold to flow into that country
  • D Its currency to be in surplus
View Answer & Explanation
Question 32:
Balance of trade is the difference between?
  • A Exports and imports of goods and services
  • B Capital inflows and capital outflows
  • C Visible and invisible balances
  • D Exports and imports of goods
View Answer & Explanation
Question 33:
Which of the following is likely to reduce a surplus in the balance of payments of a country?
  • A Devaluation
  • B Increased tariff on imports
  • C Export promotion
  • D Currency appreciation
View Answer & Explanation
Question 34:
Which of the following is a tariff?
  • A Limit on the amount of goods which can be imported
  • B Inteest rate on foreign loans
  • C Government payment to domestic producers for exports
  • D Tax on imported goods
View Answer & Explanation
Question 35:
Import duties will increase total expenditure on imports if the demand for imports is?
  • A Elastic
  • B Inelastic
  • C Infinitely elastic
  • D Derived
View Answer & Explanation