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Economics Past Questions and Answers

Waec Economics Questions

Question 456:

An increase in marginal propensity to save will lead to

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A An increase in marginal propensity to consume
B A decrease in the level of consumption
C An immediate decrease in the net national income
D An increase in the level of consumption
E A decrease in the level of savings

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Question 457:

progressive system of taxation implies that the

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A Poor pay relatively more
B Tax rate falls as the tax base increases
C Tax rate increases as the tax base increases
D Average and marginal rate of tax will be the same
E Rich and the poor pay the same amount as tax

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Question 458:

development plans in Nigeria have deviated from their targets due to

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A Lack of manpower
B Political instability
C High population growth rate
D Brain drain in the country
E Inadequate land

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Question 459:

The level of economic development is low in Nigeria because

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A Planning has nopractical relevance
B Of the pattern of the consumers' spending
C The country is too large
D Of ineffective plan implementation
E There is no unique planning model

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Question 460:

The stability of Nigerian economy depends mainly on the export price of

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A Groundnut
B Cotton
C Cocoa
D Mineral oil
E Palm kernel

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