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 headquarters of the African Development Bank (ADB) was originally located at
ACotonou
BHarare
CAbidjan
DLagos
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Question 392
waec2009
The five countries that established the Organization of Petroleum Exporting Countries (OPEC) are
ANigeria, Iraq, Venezuela, Kuwait and Ghana
BSaudi Arabia, Kuwait, Sierra Leon, Iran and Iraq
CAlgeria, Kuwait, Venezuela, Iran and The Gambia
DKuwait, Venezuela, Iran Iraq and Saudi Arabia
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Question 393
waec2009
One major aim of a cartel is to
Aincrease production
Bregulate output through quota system
Chave a joint account
Dshare profits equally
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Question 394
waec2009
Expenditure by foreign tourist in a country will be recorded as
Avisible exports
Bofficial transfers
Ctransfer income
Ddivisible exports
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Question 395
waec2009
The terms of trade is described as unfavourable when
Athe price of imports rises relative to those of exports
Bthe price of exports rises relative to those of imports
Cthe net income from aabroad does not change
Dthe value of exports exceeds those of imports
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Question 396
waec2009
Terms of trade may be define as the
Atrade between one country and another
Brelationship between country's receipt from others and payment to others
Crate at which a country's export exchange for imports
Ddifferent between the value of export and imports
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Question 397
waec2009
Economic development is reflected in the
Ascarcity of capital
Bincrease in the price level
Cdecline in the agricultural production
Dincrease in productive capacity
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Question 398
waec2009
The need for development planning arises largely from the fact that
Aaggregate savings exceeds aggregate consumption
Baggregate consumption equals aggregate savings
Cproductive resource are in excess of the demand for them
Dproductive resource are scarce relative to the demand for them
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Question 399
waec2009
Fiscal policy is associated with
Ataxation and government expenditure
Bre-structuring of the banks
Cinjection of more money into the economy
Dreduction in economic activities
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Question 400
waec2009
Government expenditure on the construction of roads and bridges is
Arecurrent expenditure
Bcapital expenditure
Csupplementary expenditure
Dvariable expenditure
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Question 401
waec2009
The tax imposed on good manufacture within a country is
Aan excise tax
Ba capital gain tax
Cprofit tax
Da sales tax
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Question 402
waec2009
which of the following serves as a banker's bank?
ACommercial banks
BThe Mortgage Bank
CThe Central Bank
DDevelopment Bank
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Question 403
waec2009
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 404
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 405
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 406
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 407
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 408
waec2009
disposable income is total income
Aless tax
Bdivided by tax
Cplus tax
Dmultiplied by tax
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Question 409
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 410
waec2009
The population density of town Y made up of 50 square kilometre land area and 100 million people is
