2010 - WAEC Economics Past Questions and Answers - page 5
41
A component of the national debt of a country is
A
taxation
B
bank saving
C
the budget
D
treasury bills
correct option: d
Users' Answers & Comments42
When the demand for a good is fairly inelastic, the burden of an indirect tax falls
A
more on the consumers of the goods
B
more on the sellers of the goods
C
on sellers and consumers equally
D
completely on the capital
correct option: a
Users' Answers & Comments43
Dumping means the selling of a good in a foreign market at a price that is
A
below the home market price
B
above the home market price
C
equal to the home market price
D
able to clear the home market price
correct option: a
Users' Answers & Comments44
Which of the following group of accounts make up the balance of payments?
A
the current account multiple account and capital account
B
Monetary movement account;company account and international account
C
cash acount; double entry account and current account
D
Capital account; current account and monetary movement account
correct option: d
Users' Answers & Comments45
A country's balance of payment is deficit when
A
a country's payment for imports of visible goods are greater than her receipts from exports of visible goods
B
the total receipts from her exports of visible and invisible goods are greater than her payments for visible and invisible imports
C
it can record a surplus on current account of her balance of payment accounts
D
the total payment for visible and invisible imports are greater than the total receipts from her exports of visible and invisible goods
correct option: d
Users' Answers & Comments46
In order to stabilize oil price in the world market, there is the need for OPEC members to
A
always have budget deficit
B
encourage competition among themselves
C
adhere to production quotas
D
fix the price of non-oil products
correct option: c
Users' Answers & Comments47
Which of the following is not a member of the Economic Community of West African State (ECOWAS)?
A
Cape Verde
B
Mauritania
C
Cameroon
D
Niger
correct option: c
Users' Answers & Comments48
Which of the following is not an international economic organization?
A
Economic Commission for Africa (ECA)
B
African Development Bank (ADB)
C
World Health Organization (WHO)
D
International Monetary Fund (IMF)
correct option: c
Users' Answers & Comments