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Economics Past Questions and Answers

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Waec Economics Questions

Question 396:
WAEC 1997
the actual output of an economy is the output
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  • A Which would exist if al resources were fully employed
  • B Produced by currently employed labour capital and land
  • C Produced in the consumer goods sector
  • D Produced in the capital goods sector
  • E Produced by agriculture sector
View Answer & Explanation
Question 397:
WAEC 1997
one of the instruments of protection of infants industries is the
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  • A Price control board
  • B Open market operation
  • C Tarrif
  • D GDP-deflator
  • E Multiplier
View Answer & Explanation
Question 398:
WAEC 1997
inflation caused by increase in demand can be curbed by
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  • A Exporting more goods and services
  • B Hoarding of goods
  • C Increasing the level of output
  • D Increasing the level of money supply
  • E Reducing importation
View Answer & Explanation
Question 399:
WAEC 1997
which of the following is a function of commercial banks?
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  • A Issuing currencies
  • B Accepts deposits
  • C Are the bankers' bank
  • D Determine the rate of interest
  • E Increase of time in learning a trade
View Answer & Explanation
Question 400:
WAEC 1997
Division of labour leads to
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  • A Employment of everybody
  • B Decrease in output
  • C Monotony of work
  • D Increase of time in workshops
  • E Increase of time in learning a trade
View Answer & Explanation

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