Corrective Measures Of Balance Of Trade And Balance Of Payments Jamb Economics Past Questions
Question 6
Personal distribution of income implies?
- A. the way in which income is distributed among specific households or spending units
- B. the distribution of income according to basic resources
- C. dividing income according to industries
- D. dividing income between personal taxes, consumption expenditures and savings
Question 7
One way of correcting the balance of payments problem of a country is to?
- A. introduce import-promotion measures
- B. buy investments abroad
- C. devalue the currency
- D. de-emphasize import-substitution industries
Question 8
Balance of payment deficit in Nigeria CANNOT be solved by
- A. importing more goods and services
- B. devaluation of the currency
- C. imposing import duties
- D. imposing import bans on some commodities
Question 9
Which is an example of an invisible item in the trade Account of Ghana?
- A. Export of Cocoa from Ghana
- B. Import of oil from Nigeria
- C. A gift of a Peugout 504 by a firm in Nigeria to a firm in Ghana
- D. Payment for shipping and insurance by a Ghanaian company to companies outside Ghana
- E. None of the above
