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Economics Past Questions and Answers

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Waec Economics Questions

Question 81:

A legal tender is any

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A Form of money
B Means of exchange authorized by the state
C Commodity generally acceptable as a meduim of exchange
D Total productivity of labour
E Amount of goods and services that the wage can fetch

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Question 82:

Wages are to some extent determine by the

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A Marginal utility of labour
B Marginal productivity of labour
C Average productivity of labour
D Total productivity of labour
E Amount of goods and services that the wage can fetch

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Question 83:

Inflation in any economy

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A Has no monetary connection
B Implies a sustained decrease in the general price level
C Always increase the value of national currency
D Tends to redistribute income arbitrarily
E Tends to bring down market prices

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Question 84:

which of these does not encourage industrial development?

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A Tax exemption
B Provision of financial institution
C Provision of infrastructural facilities
D Limitation of markets for industruial products
E Government direct participation

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Question 85:

which of these does not encourage industrial development?

SchoolNGR Classroom

A Tax exemption
B Provision of financial institution
C Provision of infrastructural facilities
D Limitation of markets for industruial products
E Government direct participation

View Answer & Explanation

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