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Economics Past Questions and Answers

Waec Economics Questions

Question 1186:

Which of the following group of accounts make up the balance of payments?

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A The current account multiple account and capital account
B Monetary movement account;company account and international account
C Cash acount; double entry account and current account
D Capital account; current account and monetary movement account

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Question 1187:

A country's balance of payment is deficit when

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A A country's payment for imports of visible goods are greater than her receipts from exports of visible goods
B The total receipts from her exports of visible and invisible goods are greater than her payments for visible and invisible imports
C It can record a surplus on current account of her balance of payment accounts
D The total payment for visible and invisible imports are greater than the total receipts from her exports of visible and invisible goods

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Question 1188:

In order to stabilize oil price in the world market, there is the need for OPEC members to

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A Always have budget deficit
B Encourage competition among themselves
C Adhere to production quotas
D Fix the price of non-oil products

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Question 1189:

Which of the following is not a member of the Economic Community of West African State (ECOWAS)?

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A Cape Verde
B Senegal
C Cameroon
D Niger

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Question 1190:

Which of the following is not an international economic organization?

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A Economic Commission for Africa (ECA)
B African Development Bank (ADB)
C World Health Organization (WHO)
D International Monetary Fund (IMF)

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