Search SchoolNGR

Economics Past Questions and Answers

Waec Economics Questions

Question 1876:

Use this data below to answer the question
The following data relates to the national income of a country.
Gross domestic product = $2800
Net factor income from abroad = $250
Depreciation = $700
Indirect taxes = $120

What is the country's Gross National (GNP)?

SchoolNGR Classroom

A $ 3.050
B $ 2.680
C $ 2,350
D $2,100

View Answer & Explanation

Question 1877:

Use this data below to answer the question
The following data relates to the national income of a country.
Gross domestic product = $2800
Net factor income from abroad = $250
Depreciation = $700
Indirect taxes = $120

What is the country's Net National Product (NNP) at factor cost?

SchoolNGR Classroom

A $3.050
B $2,680
C $2,230
D $2.220

View Answer & Explanation

Question 1878:

The standard of living in two countries can be compared using the ____________

SchoolNGR Classroom

A Number of industries in each country
B Size of their arms and ammunition
C Size of their national incomes only
D Gross national product per head

View Answer & Explanation

Question 1879:

Government can curb inflation by ____________

SchoolNGR Classroom

A Encouraging banks to lend for any purpose.
B Increasing her own expenditure.
C Buying treasury bills in the open market.
D Selling securities in the open market

View Answer & Explanation

Question 1880:

Functions of money does not include ____________

SchoolNGR Classroom

A Store of value.
B Medium of exchange
C Standard of deferred payment.
D General acceptability.

View Answer & Explanation

Stay Updated

Follow us on:

Subjects