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JAMB Economics 1992 Question 32

Question 32

Natural Resources and Petroleum

Because most of her crude oil is exported, the foreign exchange earnings and the forward linkage effects Nigeria realizes from her oil production are

  1. A.both high
  2. B.respectively high and low
  3. C.respectively low and high
  4. D.both low
Show the answer and explanation

Answer: B (respectively high and low)

Explanation

Exporting crude earns much foreign exchange, but little is refined or processed at home, so forward linkages are weak.