Economics Past Questions

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48 questions JAMB 2540 WAEC 1723 NECO 272 CUSTOM 10
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Past Questions

48 questions
Question 1 of 20 48 total questions
Question 1
waec 2015

what is the total revenue from non tax sources

A$400.20 m
B$375.20 m
C$135.00 m
D$75.00 m
View Explanation & Discuss
Question 2
waec 2015

what is the total revenue from indirect tax

A$686.0 m
B$400.20 m
C$135.80 m
D$100.00 m
View Explanation & Discuss
Question 3
waec 2015

which of the following is a benefit to a member country of World Bank?

Aeasy access to long term loans
Bmanagement of foreign exchange
Cmediating in labour dispute
Dfinancing balance of payment deficit
View Explanation & Discuss
Question 4
waec 2015

In order to correct adverse balance of payments problem, government should? 

Areduce tariffs
Bincrease subsidies on exports
Cincrease tax on local industries
Dreduce personal income tax
View Explanation & Discuss
Question 5
waec 2015

The abolition of all forms of trade barriers among member countries while maintaining common external tariffs against non members is a feature of a

Afree trade
Bcustom union
Ccommon market
Deconomic union
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Question 6
waec 2015

A country has favourable terms of trade when the prices of her 

Aexports rises relative to the price of her imports
Bexports falls relative to the price of her imports
Cimports rise faster than the prices of imports
Dimports and exports move in the same direction
View Explanation & Discuss
Question 7
waec 2015

A concious effort of government to achieve a specific set of goals is?

Aeconomic planning
Beconomic development
Ceconomic growth
Deconomic target
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Question 8
waec 2015

The export of west A frican countries are mostly composed of

Aservice
Braw materials
Cmanufactured goods
Dconsumer goods
View Explanation & Discuss
Question 9
waec 2015

when the demand for foreign exchange exceeds its supply, the value of the domestic currency 

Aappreciates
Bdepreciates
Cremains inchanged
Dexpands
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Question 10
waec 2015

In order to control inflation, the government should

Areduce the cost of borrowing
Bbuy securities in the open market
Cadopt restrictive monetary policy
Ddiscourage savings
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Question 11
waec 2015

which of the following is not an objective of economic planning

Aneed to direct economic development of the country towards the desired direction
Bdesire to ensure a sustained cultural development of the country
Cdesire to widen the gap between developing countries and the developed world
Dmanagement of scarce resources in the face of unlimited wants of the citizens
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Question 12
waec 2015

The proportion of commercial banks' total assets kept in the form of highly liquid assets is known as 

Ademand deposit
Bfixed deposit
Ccash ratio
Dmoral suasion
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Question 13
waec 2015

The main item traded on a stock exchange market is 

Atreasury bills
Btravellers cheque
Cforeign currencies
Dnew shares
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Question 14
waec 2015

An industry is best described as 

Afirm that sells a set of closely related commodities
Ba factory that produces different lines of product
Ca group of firms that sells a closely related set of products
Dindustrial concern that is into production and selling of goods
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Question 15
waec 2015

In developing countries, a larger percentage of the labour force is employed in the

Atrade sector
Btertiary sector
Cprimary sector
Dsecondary sector
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Question 16
waec 2015

which of the following best describes token money?

Amoney in the vaults of commercial banks
Bcurrency and coins in circulation
Cmoney with face value higher than its material content
Dcoins and notes made of poor quality material
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Question 17
waec 2015

In national income accounting, the term ''net'' is used to indicate that a value-----

Aincludes income of foreigners
Bincludes income of citizens
Cincludes depreciation
Dexcludes depreciation
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Question 18
waec 2015

location of firms of an industry is not influenced by?

Aavailability of raw material
Bexistence of other firms
Cnearness to the source of money supply
Dgovernment policy
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Question 19
waec 2015

The difference between the gross domestic product (GDP) and gross national product (GNP) IS?

Adepreciation
Btransfer payment
Cnet income from abroad
Ddirect taxes
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Question 20
waec 2015

which of the following is not a strong basis for trade unions demand for higher wages

Acompany is making higher profit
Bproductivity of workers has increased
Cmembers of the union have high qualifications
Dcommodity produced by the workers is very essential
View Explanation & Discuss
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