1999 - WAEC Economics Past Questions and Answers - page 4
31
Government revenue will increase if tax is imposed on a good whose demand is
A
elastic
B
inelastic
C
unitary elastic
D
perfectly elastic
correct option: b
Users' Answers & Comments32
Occupational distribution of population is mainly influenced by
A
economic factors
B
religious factors
C
geographical factors
D
social factors
correct option: a
Users' Answers & Comments33
proportional tax refers to
A
taxation of the rich only
B
equal tax rate for all people
C
unequal tax rate for all people
D
taxation of civil servants only
correct option: b
Users' Answers & Comments34
which of the following is not n item of capital expenditure?
A
Construction of highways
B
Building of dams
C
payment of salaries and wages
D
building of a new universities
correct option: c
Users' Answers & Comments35
The population which yields the highest level of income per head is known as
A
over-population
B
under-population
C
extreme population
D
optimum population
correct option: d
Users' Answers & Comments36
Price discrimination can only occur when there is
A
perfect competiton
B
imperfect competition
C
a merge
D
partnership
correct option: b
Users' Answers & Comments37
Commodity market can best be described as a market in which
A
goods are sold
B
labour is sold and bought
C
short-term loans are obtained
D
quoted stocks are bought
correct option: a
Users' Answers & Comments38
Provision of services is classified under
A
primary production
B
secondary production
C
tertiary production
D
production possibilities
correct option: c
Users' Answers & Comments39
In ordinary partnership, the risks are
A
borne by the workers
B
borne by the creditors
C
shared among the partners
D
undertaken by the active partners
correct option: c
Users' Answers & Comments40
balance of trade is define as the relationship between
A
invisible imports and exports
B
visible and invisible exports
C
imports and exports of services
D
visible exports and visible imports
correct option: d
Users' Answers & Comments