1992 - WAEC Economics Past Questions and Answers - page 2
11
Economic growth is the
A
rate of increase in a country's full employment and real output
B
rate of increase in a nation's total population
C
rate of increase in inflation
D
rate of decrease inflation
correct option: a
Users' Answers & Comments12
The market price of a commodity is determine by the
A
total number of people in the market
B
total demand for the commodity
C
quantity of the commodity supplied
D
interaction of demand and supply
correct option: d
Users' Answers & Comments13
if the price of margarine rises substantially, the equilibrium price and quantity of butter demand will
A
decrease
B
increase
C
remain constant
D
fluctuate
correct option: b
Users' Answers & Comments14
Money as a unit of account implies that it can be
A
counted in units
B
use to facilitate exchange
C
used to measure the value of goods and services
D
used to store goods and services
correct option: c
Users' Answers & Comments15
which of the following does not increase the population of country
A
an increase in birth rate
B
a decrease in death rate
C
emigration
D
immigration
correct option: c
Users' Answers & Comments16
A stockholder partakes of the profit of a l8imited liability business by receiving
A
shares
B
profit
C
wages and salaries
D
dividends
correct option: d
Users' Answers & Comments17
Near Money is made up of
A
very liquid asset which can be easily converted into money
B
currency in circulation and demand deposit
C
note and coins
D
fixed assets which cannot be converted into money
correct option: a
Users' Answers & Comments18
Which of the following is not characteristics of a perfect competition ?
A
many sellers and buyers are in the market
B
there is perfect knowledge of the market situation
C
supply and demand are equal
D
there is no discrimination
correct option: c
Users' Answers & Comments19
Which of the following is not a negative effect of inflation
A
Lenders earn less
B
Pensioneers and salary earners on fixed income suffer
C
Exports tends to decline
D
Savings are discouraged
correct option: e
Users' Answers & Comments20
Which of the following is not function of central bank
A
Banker to the Government
B
Banker's bank
C
Acceptance of deposit from the public
D
Responsibility for monetary policy
correct option: c
Users' Answers & Comments