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Economics Past Questions and Answers

Waec Economics Questions

Question 566:

A tax on a commodity whose demand is perfectly inelastic will fall heavily on the

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A Consumer
B Manufacturer
C Wholesaler
D Retailer

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Question 567:

The main feature of regressive taxation is that its rate

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A Is higher when income is higher
B Is equal tax for all categories of people
C Remains constant when income increases
D Reduces when income increses

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Question 568:

Which of the following is an item of government recurrent expenditure?

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A Road construction
B Port facilities
C Wages and Salaries
D Telecommunication projects

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Question 569:

Which of the following is an item of government recurrent expenditure?

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A Road construction
B Port facilities
C Wages and Salaries
D Telecommunication projects

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Question 570:

Deficit budget means that government’s

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A Government expenditure is equal to its revenue
B Planned expenditure is more than the estimated income
C Planned income and expenditure target cannot be achieved
D Expenditure is less than estimated revenue

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