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Economics Past Questions and Answers

Waec Economics Questions

Question 1521:

The difference between GDP and GNP

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A Consumption of fixed capital
B Indirect business tax
C Net factor income from abroad
D Public transfer payment

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Question 1522:

Which of the following items is not included in the measurement of the national income using the income approach

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A Wages and salary
B Government purchases
C Interest
D Divedend

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Question 1523:

A bank note is said to be a legal tender because it is

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A Printed by government
B A store of value
C Signed by the head of state
D Backed by law

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Question 1524:

During Inflation, interest rate will

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A Rise
B Flunctuate
C Remain constant
D Fall

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Question 1525:

Cost push inflation is likely to arise when

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A There is an increase in banking lending
B There is an increase in subsidies
C Stock exchange
D Rise in the cost of production.

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