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Economics Past Questions and Answers

Waec Economics Questions

Question 1326:

In the balance of payments of a country, tourism is classified under

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A Capital account
B Invisible trade
C Merchandise trade
D Official reserves

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Question 1327:

General rise in the price level induced by increased price of inputs is referred to as

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A Run-away inflation
B Cost -push inflation
C Demand -pull inflation
D Imported inflation

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Question 1328:

Which of the following is a function of merchant banks?

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A Acting as bankers' bank.
B Lending to the commercial banks as a last resort
C Controlling inflation in the economy
D Underwriting and issuing of shares

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Question 1329:

A budget is balance when expected total revenue is

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A Greater than expected expected expenditure
B Less than total expenditure
C Equal to expected expenditure
D Greater than total expenditure

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Question 1330:

A co-operative society is a

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A Finance house
B Self -help business organization
C Public corporation
D Non-democratic business organization

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