2009 - WAEC Economics Past Questions and Answers - page 5
41
Government expenditure on the construction of roads and bridges is
A
recurrent expenditure
B
capital expenditure
C
supplementary expenditure
D
variable expenditure
correct option: b
Users' Answers & Comments42
Fiscal policy is associated with
A
taxation and government expenditure
B
re-structuring of the banks
C
injection of more money into the economy
D
reduction in economic activities
correct option: a
Users' Answers & Comments43
The need for development planning arises largely from the fact that
A
aggregate savings exceeds aggregate consumption
B
aggregate consumption equals aggregate savings
C
productive resource are in excess of the demand for them
D
productive resource are scarce relative to the demand for them
correct option: d
Users' Answers & Comments44
Economic development is reflected in the
A
scarcity of capital
B
increase in the price level
C
decline in the agricultural production
D
increase in productive capacity
correct option: d
Users' Answers & Comments45
Terms of trade may be define as the
A
trade between one country and another
B
relationship between country's receipt from others and payment to others
C
rate at which a country's export exchange for imports
D
different between the value of export and imports
correct option: c
Users' Answers & Comments46
The terms of trade is described as unfavourable when
A
the price of imports rises relative to those of exports
B
the price of exports rises relative to those of imports
C
the net income from aabroad does not change
D
the value of exports exceeds those of imports
correct option: a
Users' Answers & Comments47
Expenditure by foreign tourist in a country will be recorded as
A
visible exports
B
official transfers
C
transfer income
D
divisible exports
correct option: a
Users' Answers & Comments48
One major aim of a cartel is to
A
increase production
B
regulate output through quota system
C
have a joint account
D
share profits equally
correct option: b
Users' Answers & Comments49
The five countries that established the Organization of Petroleum Exporting Countries (OPEC) are
A
Nigeria, Iraq, Venezuela, Kuwait and Ghana
B
Saudi Arabia, Kuwait, Sierra Leon, Iran and Iraq
C
Algeria, Kuwait, Venezuela, Iran and The Gambia
D
Kuwait, Venezuela, Iran Iraq and Saudi Arabia
correct option: d
Users' Answers & Comments50
The headquarters of the African Development Bank (ADB) was originally located at
A
Cotonou
B
Harare
C
Abidjan
D
Lagos
correct option: c
Users' Answers & Comments