International Trade Jamb Economics Past Questions
Question 11
In international trade, shipping and other freight charges are treated as?
- A. invisible items
- B. unilateral transfers
- C. capital transactions
- D. autonomous capital transactions
Question 12
The problems of conducting census include?
- A. high rate of rural-urban migration
- B. poor geographical distribution of population
- C. high birth rate in tthe coutry
- D. poor town planning in urban areas
Question 13
If demand is relatively inelastic and sellers are able to raise the price of their commodity, then there we be a?
- A. fall in both quantity of demand and total revenue
- B. fall in the quantity demanded and rise in total revenue
- C. fall in the quantity demanded and rise in marginal revenue
- D. rise in both the quantity demanded and the marginal revenue
Question 14
Counter trading is an international arrangement whereby?
- A. goods and services are exchanged in a manner similar to barter
- B. goods and services are sold on the counter
- C. crude oil is sold to a foreign country
- D. goods are shipped to countries on which the United Nations has placed a trade embargo
Question 15
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
