1991 - WAEC Economics Past Questions and Answers - page 2
11
which of the following item is not included in measuring national income by the income approach?
A
Wages and salaries of public servants
B
Student's grants and scholarships
C
Profits of companies
D
Income earned by self-employed persons such as lawyers
correct option: b
Users' Answers & Comments12
if an economy is growing at an annual rate of 7% and 4% of it is known to be due to the improvement in labour ans capital combined, the balance of 3% is usually attributed to
A
land and enterprenuer
B
abundance of natural resources
C
level of human capital
D
technical progress and related factors
correct option: c
Users' Answers & Comments13
A government treasury bill is a form of debt instrument which falls due for repayment after
A
3 months
B
9 months
C
2 years
D
5 years
correct option: a
Users' Answers & Comments14
Which of the following is not regarded as money in Economics?
A
Coins
B
Currency notes
C
bank depisits
D
cheques
correct option: d
Users' Answers & Comments15
Which of the following is not a reason why people migrate from one place to another ?
A
to find jobs and improve their standard of living
B
To live in a more suitable climate
C
For the sake of change and adventure
D
to escape from a religious. political or social situation in a country
correct option: e
Users' Answers & Comments16
A major function of the middlemen in Nigeria is the distribution of
A
commodities to all consumers regardless of income
B
commodities to consuming centres
C
economic welfare facilities to all
D
waelth to all
correct option: b
Users' Answers & Comments17
International trade is necessary mainly because
A
no country can live in economic isolation
B
different countries are endowed with the same natural; and man-made resources
C
some countries have comparative cost advantage in the production of certain commodities
D
the world demand for and supply od various categories of commodities is expanding very fast
correct option: c
Users' Answers & Comments18
Which of the following is the approximate working agent in Nigeria?
A
1 - 15
B
15 - 65
C
30 - 40
D
40 - 65
correct option: b
Users' Answers & Comments19
Dumping in Economics means the selling of goods in a foreign market
A
ata a price below that received in the home market
B
at a price above that received in the home market
C
at a price equal to the cost price in the home market
D
in order to encourage indigenious producers
correct option: a
Users' Answers & Comments20
A shift of the demand curve to the right when the supply curve remains constant , implies that
A
both price and quantity demanded will increase
B
only price increases
C
both price and quantity demanded will decrease
D
the price remains constant
correct option: a
Users' Answers & Comments