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
Ask EduPadi AI for a detailed answer
Share this question
32
Which of the following is a disadvantage of large scale production?
A
market economies
B
managerial economies
C
personal organization
D
division of labour
Ask EduPadi AI for a detailed answer
Share this question
33
The national income off a country can be estimated through the
A
output approach
B
input approach
C
empirical approach
D
census approach
Ask EduPadi AI for a detailed answer
Share this question
34
A medium of exchange which is generally acceptable is
A
bater
B
a cheque
C
government bond
D
money
Ask EduPadi AI for a detailed answer
Share this question
35
Since money is demanded for what it can buy, the demand is said to be
A
derived
B
joint
C
composite
D
complementary
Ask EduPadi AI for a detailed answer
Share this question
36
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
Ask EduPadi AI for a detailed answer
Share this question
37
A continuous fall in the general price level is called
A
recession
B
depression
C
deflation
D
stagflation
Ask EduPadi AI for a detailed answer
Share this question
38
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
Ask EduPadi AI for a detailed answer
Share this question
39
The Central Bank can restrict credit through
A
depreciation of assets
B
granting overdraft
C
direct investment
D
open market operation
Ask EduPadi AI for a detailed answer
Share this question
40
Creation of money by commercial bank is done by
A
increasing the cash ratio
B
printing money
C
lending to borrowers
D
issuing cheques
Ask EduPadi AI for a detailed answer
Share this question