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Tuesday, 05 May 2026
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Economics Past Questions and Answers

Waec Economics Questions

Question 1751:
An increase in the prices of factor inputs may result in _____________
  • A Demand-pull inflation
  • B Stagflation
  • C Open inflation
  • D Cost-push inflation
View Answer & Explanation
Question 1752:
Citizens are protected from the government's arbitrariness in taxation by the canon of _____________
  • A Elasticity
  • B Flexibility.
  • C Economy
  • D Certainty
View Answer & Explanation
Question 1753:
What happens when the central bank increases the bank rate?
  • A Amount of borrowing increases
  • B Amount of borrowing decreases
  • C Supply of money increases
  • D Commercial banks are not affected
View Answer & Explanation
Question 1754:
Insurance Companies are similar to commercial banks in that they _____________
  • A Compensate their customers for losses
  • B Act as lender of last resort
  • C Help in maintaining monetary stability in a nation
  • D Help in mobilizing savings for investment
View Answer & Explanation
Question 1755:
In most developing countries, a large percentage of the labour force is engaged in
  • A Trading
  • B Mining
  • C Agriculture
  • D Manufacturing
View Answer & Explanation