1992 - WAEC Economics Past Questions and Answers - page 4
31
which of the following is not the function of a commercial bank
A
accepting deposits from the publicv
B
serving as banker to the government
C
lending to the public
D
safekeeping of valuables
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32
inflation caused by increase in demand is known as
A
cost-push inflation
B
hyper-inflation
C
demand-pull inflation
D
creeping inflation
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33
indirect tax are taxes which
A
are levied on the income and profit of the individuals and firms
B
always affects the producer only
C
are bassed on the progressive principles
D
are based on the regressive principles
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34
The situation where government revenue in a fiscal year is less than its expenditure is referred to as
A
budget deficit
B
balanced budget
C
budget surplus
D
budget statement
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35
The situation where government revenue in a fiscal year is less than its expenditure is referred to as
A
budget deficit
B
balanced budget
C
budget surplus
D
budget statement
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36
Land is often different from other factors of production because it
A
is a free gift of nature
B
constitutes one-third of the entire world
C
has different grades
D
is owned bt individuals
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