2008 - WAEC Economics Past Questions and Answers - page 4
31
Which of the following is a disadvantage of large scale production?
A
market economies
B
managerial economies
C
personal organization
D
division of labour
correct option: c
Users' Answers & Comments32
Which of the following is a disadvantage of large scale production?
A
market economies
B
managerial economies
C
personal organization
D
division of labour
correct option: c
Users' Answers & Comments33
The national income off a country can be estimated through the
A
output approach
B
input approach
C
empirical approach
D
census approach
correct option: a
Users' Answers & Comments34
A medium of exchange which is generally acceptable is
A
bater
B
a cheque
C
government bond
D
money
correct option: d
Users' Answers & Comments35
Since money is demanded for what it can buy, the demand is said to be
A
derived
B
joint
C
composite
D
complementary
correct option: a
Users' Answers & Comments36
The supply of money in the economy includes
A
bank notes only
B
bank note and coins
C
bank notes and bank deposits
D
bank notes, coins and bank deposits
correct option: d
Users' Answers & Comments37
A continuous fall in the general price level is called
A
recession
B
depression
C
deflation
D
stagflation
correct option: c
Users' Answers & Comments38
The indicator of the value of money is
A
the general price level
B
the equilibruim price
C
consumer''s income
D
the interest rate
correct option: a
Users' Answers & Comments39
The Central Bank can restrict credit through
A
depreciation of assets
B
granting overdraft
C
direct investment
D
open market operation
correct option: d
Users' Answers & Comments40
Creation of money by commercial bank is done by
A
increasing the cash ratio
B
printing money
C
lending to borrowers
D
issuing cheques
correct option: c
Users' Answers & Comments