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Economics Past Questions and Answers

Waec Economics Questions

Question 1886:
A floating exchange rate means that the exchange rate is fixed by the ____________
  • A Central bank of the country
  • B Forces of demand and supply
  • C International monetary fund (IMF)
  • D Ministry of Finance
View Answer & Explanation
Question 1887:
A measure that can be adopted to correct a country 's balance of payments deficit is ____________
  • A Allow the currency to appreciate to encourage imports.
  • B Allow the currency to depreciate to encourage imports
  • C Adopt import substitution strategy
  • D Restrict trade with all countries
View Answer & Explanation
Question 1888:
Records of a country's invisible trade are recorded in her ____________
  • A Trade account.
  • B Capital account.
  • C Current account
  • D Financial account.
View Answer & Explanation
Question 1889:
If a country's import bill is high, she can encourage exports by ____________
  • A Allowing her currency to depreciate
  • B Allowing her currency to appreciate
  • C Liberalizing importation
  • D Increasing taxes on all locally produced goods
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Question 1890:
If a country imposes a barrier on trade, the resultant effect will be ____________
  • A A halt in buying and selling
  • B High quality goods from local industries
  • C An increase in the demand for locally produced goods
  • D Shutdown of infant industries
View Answer & Explanation