2004 - WAEC Economics Past Questions and Answers - page 3
21
one main benefit of partnership is
A
the possibility of raising funds on the stock exchange
B
the possibility of attracting twenty one or more members
C
that members can specialize in various functions
D
that it enjoys its own separate legal entity
22
Joint ventures are partnerships involving
A
the poor and the rich
B
employers and workers
C
government and private investors
D
multinationals and individuals
23
The value of money is best determined by
A
input-output ratio
B
the purchasing power
C
the importance people attach to it
D
economies of scale
24
Which of the following will be an effect of inflation?
A
wage earners will gain
B
borrowing of money will be restricted
C
money lenders will gain
D
borrowers of money will gain
25
Government can control inflation by
A
printing more money
B
reducing the rate of taxes
C
reducing the level of expenditures
D
establishing more banks
26
The market consisting of a network of dealers where currencies can be bought and sold is known as
A
capital market
B
foreign exchange market
C
commodity market
D
the stock market
27
Open Market Operation (OMO) means the
A
provision of credit facilities by commercial banks
B
provision of credit facilities by the mortgage banks
C
buying and selling of government securities by the central banks
D
procedure for the establishment of commercial banks
28
which of the following is an advantage of localization of industry?
A
development of subsidiary firms
B
creation of paralell markets
C
developments of slums
D
atrraction of foreign capital
29
which of the following will ensure efficiency in the in the industrial sector of your country?
A
indigenization
B
privatisation
C
nationalization
D
liquidation
30
The number of people who are qualified to work and who offer themselves for employment are called
A
migrant labour
B
working population
C
labour turnover
D
mobility of labour
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