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Economics Past Questions and Answers

Jamb Economics Questions

Question 41:
De valuation helps in checking adverse balance of payments if the?
  • A Demand for imports is elastic
  • B Demand for imports is inelastic
  • C Supply of exports is elastic
  • D Demand for exports is inelastic
View Answer & Explanation
Question 42:
Gains from trade depends on?
  • A Comparative advantage
  • B Absolute advantage
  • C Distributive cost advantage
  • D Absolute cost advantage
View Answer & Explanation
Question 43:
Favorable terms of trade is important to a country because it facilities?
  • A Economic prosperity for importers and exporters
  • B Export of hard currency by the government
  • C Economic prosperity for country
  • D Import of hard currency by the government
View Answer & Explanation
Question 44:
The most acceptable economic measure for trade protection is to?
  • A Improve standards of living
  • B Protect infant industries
  • C Safegard strategic industries
  • D Promote foreign trade
View Answer & Explanation
Question 45:
From the table calculate the national income
  • A N18,500m
  • B 19,000m
  • C 19,500m
  • D 20,500m
View Answer & Explanation