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Economics Past Questions and Answers

Waec Economics Questions

Question 1171:

Which of the following equation is appropriate for determining the Net Domestic Product (NDP)?

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A NDP = GNP - depreciation
B NDP = GDP + Net Income from abroad
C NDP = GDP - depreciation
D NDP = GDP * Net Income from abroad

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Question 1172:

Which of the following over estimates the value of national income?

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A Incomplete statistical data
B Wrong timing of computation
C Changes in price of goods within the year
D Double counting

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Question 1173:

The total stock of money available for use in an economy is

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A A function of money
B A characteristics of money
C The demand for money
D The supply of money

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Question 1174:

Which of the following is not a reason for holding money?

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A Ostentation
B Speculations
C Transactions
D Precautionary

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Question 1175:

The best way of combating demand-pull inflation is to

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A Increase income taxes
B Reduce income taxes
C Increase import duties
D Increase salaries and wages

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