2004 - WAEC Economics Past Questions and Answers - page 4
31
When the general price level persistently falls, the rate of unemployment
A
rises
B
stagnates
C
rapidly reduces
D
equal natural groth rate
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32
Which of the following is not a direct effort to increase agricultural production?
A
operation feed the nation
B
use of improved seedlings
C
increased loans to farmers and co-operative societies
D
Ntional Yputh Service Corps
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33
To ensure high employment rate, developing countries should
A
build more universities
B
protect infant industries
C
organize trade fairs
D
prevent rural-urban drift
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34
The act of selling goods in foreign markets at prices below those charged at home market is called
A
exchange
B
specialization
C
dumping
D
exporting
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35
Taxes levied on commodities are
A
direct taxes
B
indirect tax
C
poll tax
D
investment taxes
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36
One disadvantages of direct tax is that
A
government's revenue is reduced
B
price of essential commodities fall
C
people are discouraged from additional work
D
firms make more profit
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37
International trade is an application of the principle of
A
industrial production
B
mass production
C
regional co-operation
D
comparative cost advantage
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38
Trade among West African countries is poor because the
A
countries are self-sufficient
B
communication links are weak
C
number of banks is insufficient
D
people are not enterprising
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39
A policy by which government restrict the amount of foreign currencies bought and sold is known as
A
devaluation
B
credit creation
C
exchanging control
D
export promotion
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40
which of the following item is under the capital account of a balance of payment?
A
repayment of foreign loans
B
visible imports
C
invisble exports
D
cocoa exports
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