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Economics Past Questions and Answers

Waec Economics Questions

Question 1461:

which of the following is not a strong basis for trade unions demand for higher wages

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A Company is making higher profit
B Productivity of workers has increased
C Members of the union have high qualifications
D Commodity produced by the workers is very essential

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Question 1462:

The difference between the gross domestic product (GDP) and gross national product (GNP) IS?

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A Depreciation
B Transfer payment
C Net income from abroad
D Direct taxes

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Question 1463:

location of firms of an industry is not influenced by?

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A Availability of raw material
B Existence of other firms
C Nearness to the source of money supply
D Government policy

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Question 1464:

In national income accounting, the term net is used to indicate that a value

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A Includes income of foreigners
B Includes income of citizens
C Includes depreciation
D Excludes depreciation

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Question 1465:

which of the following best describes token money?

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A Money in the vaults of commercial banks
B Currency and coins in circulation
C Money with face value higher than its material content
D Coins and notes made of poor quality material

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