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 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 923
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 924
waec2009
Government expenditure on the construction of roads and bridges is
Arecurrent expenditure
Bcapital expenditure
Csupplementary expenditure
Dvariable expenditure
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Question 925
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 926
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 927
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 928
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 929
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 930
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 931
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 932
waec2009
disposable income is total income
Aless tax
Bdivided by tax
Cplus tax
Dmultiplied by tax
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Question 933
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 934
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 935
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 936
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 937
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 938
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 939
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 940
waec2009
What accounts for the ‘U-shaped’ of the short run average cost (AC) curve?
