Meaning And Basis For International Trade Jamb Economics Past Questions
Question 1
A country's terms of trade can be improved by________?
- A. Revaluation of currency
- B. Collective bargaining
- C. Reducing demand for imported goods
- D. Imposing lower export duties
Question 2
Which of the following is NOT a visible iterm in international trade payments?`
- A. Payments for imported cars
- B. Receipts from coca exports
- C. Payments to foreign shipping companies
- D. Payments for steel imports
- E. Payments for petroleum imports
Question 3
If Nigeria imports vehicles from Japan the transaction will appear as a
- A. debit on Japan's balance of payments
- B. credit on Japan's balance of payments
- C. credit on Nigeria's balance of trade
- D. credit on Nigeria's balance of payment
Question 4
Which of the following forms of economic integration is a member nation free to impose duty against non-members
- A. Customs union
- B. free trade area
- C. Common market
- D. Economic community
Question 5
Export-promotion policy is primary concerned with the?
- A. processing of raw materials to increase their value
- B. making of international routes safe for export commodity
- C. reduction in the number of imported items
- D. encourage of the production of export commodities
