2000 - WAEC Economics Past Questions and Answers - page 4
31
The main feature of regressive taxation is that its rate
A
is higher when income is higher
B
is equal tax for all categories of people
C
remains constant when income increases
D
reduces when income increses
correct option: d
Users' Answers & Comments32
Which of the following is an item of government recurrent expenditure?
A
Road construction
B
Port facilities
C
Wages and Salaries
D
Telecommunication projects
correct option: c
Users' Answers & Comments33
Which of the following is an item of government recurrent expenditure?
A
Road construction
B
Port facilities
C
Wages and Salaries
D
Telecommunication projects
correct option: c
Users' Answers & Comments34
Deficit budget means that government’s
A
Government expenditure is equal to its revenue
B
Planned expenditure is more than the estimated income
C
Planned income and expenditure target cannot be achieved
D
Expenditure is less than estimated revenue
correct option: b
Users' Answers & Comments35
The most unique quality of money is its
A
Relative scarcity
B
Divisibility
C
Durability
D
General acceptability
correct option: d
Users' Answers & Comments36
Abstention from consumption which enables capital to be produced is called
A
Savings
B
Production
C
Accumulation
D
Opportunity cost
correct option: a
Users' Answers & Comments37
Which of the following will occur when the market is unstable?
A
Price will fluctuate
B
Demand will remain static
C
Unemployment will surely fall
D
Price will remain static
correct option: a
Users' Answers & Comments38
Shares and stocks can be bought in the
A
Commodity market
B
Stock exchange
C
Money market
D
Open market
correct option: b
Users' Answers & Comments39
Inflation can best be checked by
A
allowing supply to remain constant
B
decreasing supply and incresing wages
C
increasing supply and holding wages constant
D
decreasing supply and wages
correct option: c
Users' Answers & Comments40
foreign exchange control in most West African countries is is enforced by the
A
development banks
B
Merchant banks
C
ministry of economic planning
D
Central banks
correct option: d
Users' Answers & Comments