Study and practice Economics past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.
The marketing of government security by the Central Bank is termed
Aretail banking
Bopen market operation
Cselective credit control
Dcredit creation
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Question 32
waec2009
which of the following is specialized in lending money for the purpose of developing real estate?
Amerchant banks
Bmortgage banks
Cdiscount houses
Dcommercial banks
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Question 33
waec2009
Depreciation = $40,000
Gross Domestic Product = $100,000
Factor Payments to Foreigners = $20,000
Factor Receipts from Abroad = $25,000
The Net Domestic Product is
A$55,000
B$60,000
C$140,000
D$165,000
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Question 34
waec2009
Depreciation = $40,000
Gross Domestic Product = $100,000
Factor Payments to Foreigners = $20,000
Factor Receipts from Abroad = $25,000
The National Income is equal to
A$45,000
B$60,000
C$65,000
D$195,000
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Question 35
waec2009
Use the information below to answer these questions
Depreciation = $40,000
Gross Domestic Product = $100,000
Factor Payments to Foreigners = $20,000
Factor Receipts from Abroad = $25,000
The Gross National Product is equal to
A$40,000
B$50,000
C$105,000
D$125,000
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Question 36
waec2009
disposable income is total income
Aless tax
Bdivided by tax
Cplus tax
Dmultiplied by tax
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Question 37
waec2009
manufacturing involves the process of
Amaking goods available
Bproviding finished products
Cchanging items to new states
Dproducing capital goods only
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Question 38
waec2009
The population density of town Y made up of 50 square kilometre land area and 100 million people is
A50,000 people per square kilometre
B0.2 million people per square kilometre
C0.5 million people per square kilometre
D2 million people per square kilometre
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Question 39
waec2009
what is the effect of pursuit of higher education on the size of labour force?
Ait makes labour force to be defective
Bit brings higher wage rate
Cit increases the size of labour force
Dit reduces the size of labour force
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Question 40
waec2009
A market in which a single price obtains for a product is known as
Aa product market
Ba capital price market
Can imperfect market
Da perfect market
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Question 41
waec2009
which of the following is a condition necessary for a perfect market?
Athe goods are heterogenous
Bthere is preferential treatment
Cthere is a large number of buyers and sellers
Dbuyers and sellers are easily influenced
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Question 42
waec2009
One advantage of a sole proprietor is that
Ait can be managed without conflicts
Bthe sole proprietor raises money from the public
Cit makes an increase in the volume of business possible
Dthere is no limit to the number pf people who may bring in capital
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Question 43
waec2009
which of these is true of a perfect competitor?
AP = AR < MR
BP > AR = MR
CP = MR < AR
DP = AR = MR
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Question 44
waec2009
What accounts for the ‘U-shaped’ of the short run average cost (AC) curve?
Athe law of variable proportions
Bincreasing returns to scale
Cdecreasing use of inputs
Dchange output during the production period
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Question 45
waec2009
labour can be efficient when there are
Aadequate tools to work with
Bhigh level of employment
Climited vacancies
Dgovernment restrictions
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Question 46
waec2009
A society that operates below the production possibility curve is using its productive resources
Aoptimally
Befficiently
Cinefficiently
Dmaximally
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Question 47
waec2009
which of the following sector is most capital intensive?
Ainsurance
Bpetroleum
Ccommerce
Dtourism
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Question 48
waec2009
who among the following is the intermediary between the producer and the retailer?
Aagent
Bwholesaler
Cconsumer
Ddistributor
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Question 49
waec2009
The relationship between Marginal Product (MP) and Average Product (AP) is such that they are equal when
Aaverage product is maximum
BAverage product is minimum
CMarginal Product is maximum
DMarginal Product is increasing
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Question 50
waec2009
A consumer maximizes his utility in consuming a good 'X' when
