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Economics Past Questions and Answers

Waec Economics Questions

Question 1891:

A country may be able to earn more from exports if she ____________

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A Increase her export duty
B Devalues her currency
C Increases her import duty
D Allows her currency to appreciate

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Question 1892:

A customs union is an economic grouping which has ____________

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A Free movement of factors of production
B Common tariffs against non-Members.
C Common currency for trading
D Common military defence

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Question 1893:

Balance of payments and trade problems that arose after the world wars were resolved by the ____________

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A International Bank tor Reconstruction and Development.
B International Monetary Fund.
C African Development Bank.
D Organization of Petroleum Exporting Countries.

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Question 1894:

Examples of land that are non-renewable include ____________

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A Marshy and water-logged land.
B Farmland already used tor many years.
C Some natural resources such as natural gas.
D Oxygen and carbon dioxide in the atmosphere

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Question 1895:

Abundant natural resources do not contribute to economic growth in developing countries because of ____________

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A High rate of inflation
B Urban congestion.
C Over-reliance on multiple commodities.
D Mismanagement and corruption.

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