1994 - WAEC Economics Past Questions and Answers - page 4
31
Abstention from consumption enables capital to be produced . Such abstention is called
A
savings
B
production
C
accumulation
D
factors of production
correct option: a
Users' Answers & Comments32
Tax evasion in Economics means
A
false declaration od assets
B
paying tax only as and when due
C
declaration of assets
D
tax payments according to income received
correct option: a
Users' Answers & Comments33
The magnitude of the national income of a country depends on all the following except the
A
quantity of natural resources available
B
level of technical know-how
C
mobility of labour
D
level of productivity
correct option: c
Users' Answers & Comments34
The Quantity Theory of Money state that an increase in the quantity of money would bring about
A
a geometrical rise in price
B
an unequal rise in prices
C
a proportionate rise in prices
D
an absolute rise in prices
correct option: c
Users' Answers & Comments35
Under the ECOWAS agreement, a Nigerian can enter and stay in Ghana without a visa for a period of
A
14 days
B
30 days
C
60 days
D
90 days 100 days
correct option: d
Users' Answers & Comments