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Economics Past Questions and Answers

Waec Economics Questions

Question 1411:

Provision of short-term loans to solve balance of payments problems is done by the

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A International Finance Corporation
B International Monetary Fund
C Iternational Bank for Reconstruction and Development
D African Development Bank

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Question 1412:

West African countries are experiencing worsening terms of trade because

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A They are primary producers
B Their currencies are overvalued
C They import less machines
D They are tertiary producers

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Question 1413:

Which of the following statements is correct?

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A As total utility increases, the marginal utility also increases
B The marginal utility is a always zero whenever the total utility reaches the maximum
C The total utility is at maximum whenever marginal utility is at it's maximum
D There is no relationship between total utility and the marginal utility

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Question 1414:

A change in the quantity demanded of a given commodity is determined by the

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A Size of the population
B Income of the consumer
C Price of the commodity
D Taste and fashion

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Question 1415:

The likely implication of the devaluation of a country's currency is that

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A Exports of such a country become cheaper
B Importation of goods into such a country becomes cheaper
C The value of such a country's currency rises
D Foreign goods are attracted into the country

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