Corrective Measures Of Balance Of Trade And Balance Of Payments Jamb Economics Past Questions
Question 1
Petroleum 'glut' in international trade means______
- A. Higher prices for the Consumption of petroleum.
- B. An Oversupply of petroleum.
- C. A fall in in petroleum production.
- D. A higher petroleum price offered by the buyer.
Question 2
One of the ways of correcting a deficit balance of payments is to
- A. revalue a country's currency
- B. devalue a country's currency
- C. increase imports
- D. reduce exports
Question 3
A free trade area emerges when?
- A. traders from one part of the country can move freely to other parts
- B. customs regulation are harmonized among countries
- C. a group of countries decide to remove restrictions on imports from one another
- D. the UNCTAD is in force
Question 4
The joint ventures operating in the Nigerian oil industry are between?
- A. the NNPC and independent marketers
- B. the NNPC and multinational marketers
- C. the NNPC and producer marketers
- D. multinational corperations and independent marketers
Question 5
One of the techniques for rectifying a deficit balance of payment is?
- A. import promotion
- B. devaluation
- C. physical intervention
- D. borrowing from abroad
