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Economics Past Questions and Answers

Waec Economics Questions

Question 1821:

Inflation may occur if ____________

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A Rate of productivity is higher than the wage rate
B Prices fluctuate during a particular season of the year
C Wage increase is granted without an increase in productivity
D The government embarks on restrictive monetary policies

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Question 1822:

Money would cease to be a good store of value when ____________

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A Prices of goods and services are falling slowly
B There is a high level of unemployment
C Prices of goods and services are rising rapidly
D Prices of go0ds and services are rising slowing

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Question 1823:

Which of the following factors may lead to the underestimation of national income figures?

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A Availability of skilled statisticians
B High Volume of exports
C Emigration of skilled workers to foreign countries
D Subsistence production

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Question 1824:

Governments in West Africa can curtail inflation by ____________

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A Purchasing securities in the open market
B Selling securities in the open market
C Encouraging importation of goods from all countries
D Encouraging banks to lend for

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Question 1825:

The central bank Can reduce the ability of commercial banks to give out loans by ____________

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A Raising the bank rates
B Reducing special deposits
C Reducing the liquidity ratio
D Issuing more currency

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