Economics Past Questions

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

98 questions
Question 1 of 20 98 total questions
Question 1
waec 2012

Which of the following is not a function of the West African Development Bank?

APromotion of both private and public investments in member states
BFinancing and executing projects in member states
CPromotion of social development of member states
Dharmonization of oil prices to the advantage of member states
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Question 2
waec 2012

One of the reasons why government may erect a trade barrier is to

Acontrol foreign currencies
Bprotect infant industries
Cpromote importation
Ddiverisify the economy
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Question 3
waec 2012

Balance of payments problem can be corrected through

Aincreasing foreign reserves
Bincreasing domestic borrowing
Cimport promotion strategies
Dexport promotion strategies
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Question 4
waec 2012

Which of the following is true about import substitution? it

Ahelps in increasing exportation
Bis meant to reduce exportation
Cenables a country to curtail importation
Denables a country to improve on importation
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Question 5
waec 2012

When there is improvement in a country's terms of trade, it means that the country's

Aexports are cheaper relative to imports
Bimports are cheaper relative to exports
Cvolume of imports has declined
Dvolume of exports has declined
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Question 6
waec 2012

Which of the following will not retard economic development in West Africa?

Adependence on imports
Bpopulation control
Chigh level of illiteracy
Dlow level of savings
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Question 7
waec 2012

An excise tax is imposed on goods

Asmuggled into the country
Bmanufactured locally
Cimported into the coutry
Dseized by custom officials
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Question 8
waec 2012

A situation in which the estimated government revenue is less than the proposed expenditure for a given year can be described as

Asurplus budgeting
Bsupplementary budgeting
Cbalanced budgeting
Ddeficit budgeting
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Question 9
waec 2012

The following are reasons for failure of agricultural policies in West Africa except

Avague policy statements
Bnegation of polices
Ccreation of agro-service stations
Dprovision of obsolete implements
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Question 10
waec 2012

In open market operations, what the Central Banks sells or buys are

Ashares
Bdebentures
Csecurities
Dequities
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Question 11
waec 2012

The different between birth rate and death rate is known as

Ademographic transition
Bnatural growth rate
Cmigration rate
Dfertility rate
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Question 12
waec 2012

A price index as a statistic, measures

Ahow the value of money changes over time
Bthe volume of currency in the economy
Cthe exchange rate of a country's currency
Dthe composition of goods and services
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Question 13
waec 2012

Which of the following is not a form of money?

Acoins
Bbank notes
Cbank balance
Dbank deposit
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Question 14
waec 2012

Mr Akpoti has meat and wants maize, while Mr, Adama has maize and wants meat.transation is possible because of

Abank deposit
Bjoint demand
Cscale of preference
Ddouble coincidence of wants
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Question 15
waec 2012

When depreciation is deducted from Gross National Product, the result is

Atotal national income
Bgross domestic product
Cnet national product
Dnet domestic product
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Question 16
waec 2012

The national income is the

AGross Domestic Product at market prices
BGross National product at factor cost
CNet National Product at factor cost
DNet National Product at market prices
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Question 17
waec 2012

If Y = income, C = Consumption, I = Investment, X = Export and M = Import, then national income is

AY = C - I + (x +m0
BY = C + I + (x + m)
CY = C +I +(X - M)
DY =C + I + (m - x)
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Question 18
waec 2012

In a situation where the finished product of an industry is fragile, bulky and perishable, such an industry should be located close to its

Araw materials
Bmarket
Clabour supply
Dpower supply
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Question 19
waec 2012

One of the problems facing industrial development in West African countries is

Ainadequate large market
Binadequate infrastructure
Cinadequate supply of labour
Dunavailability of natural resources
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Question 20
waec 2012

Which of the following features best describes peasant agriculture in West Africa? It

Aspecializes in the production of one crop
Binvolves the use of small farm holdings
Cis a capital-intensive system of farming
Dis mostly associated with tree crops
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