1997 - WAEC Economics Past Questions and Answers - page 3
21
one of the instruments of protection of infants industries is the
A
price control board
B
open market operation
C
tarrif
D
GDP-deflator
correct option: c
Users' Answers & Comments22
inflation caused by increase in demand can be curbed by
A
exporting more goods and services
B
hoarding of goods
C
increasing the level of output
D
increasing the level of money supply
correct option: c
Users' Answers & Comments23
which of the following is a function of commercial banks?
A
issuing currencies
B
accepts deposits
C
Are the bankers' bank
D
Determine the rate of interest
correct option: b
Users' Answers & Comments24
Division of labour leads to
A
employment of everybody
B
decrease in output
C
monotony of work
D
increase of time in workshops
correct option: c
Users' Answers & Comments25
The largest employment sector in a typical West African country is
A
construction
B
transportation
C
petroleum
D
agriculture
correct option: d
Users' Answers & Comments26
The indigenisation policy in Nigeria is aimed at
A
nationalising foreign businesses
B
alternating foreign investors
C
commandeering foreign businesses in Nigeria
D
expelling foreign investors and taking over their investment
correct option: e
Users' Answers & Comments27
the foregone alternative in Economics is simply the
A
marginal cost
B
cost of foreign products
C
total cost
D
opportunity cost
correct option: d
Users' Answers & Comments28
all the following are different forms of money except
A
bank notes
B
demand deposits
C
coins
D
currency
correct option: e
Users' Answers & Comments29
The developments banks are essentially different from commercial banks because they
A
medium and long term loans
B
open current accounts for their customers
C
discount bills of exchange
D
are lenders of last resort
correct option: a
Users' Answers & Comments30
The outward shift to the production possibility curve could be due to
A
military conquest
B
increased money supply
C
inflation
D
economic growth
correct option: d
Users' Answers & Comments