2011 - WAEC Economics Past Questions and Answers - page 4
31
The following are features of subsistence agriculture except
A
little capital
B
processing of raw materials
C
small allotments of land
D
use of crude oil
correct option: b
Users' Answers & Comments32
which of the following is not true of small companies ? they
A
cannot benefit from economies of scale
B
are a good source of new jobs
C
can satisfy demand in specialist markets
D
have a good record of technical innovation
correct option: d
Users' Answers & Comments33
The effect of privatization on the industrial sector of a country is that it
A
ensures efficiency
B
discourages efficiency
C
leads to decrease in output
D
leads to liquidation
correct option: a
Users' Answers & Comments34
The production strategy used in an over-populated country is
A
import substitution
B
capital intensive
C
labour intensive
D
first come first employed
correct option: c
Users' Answers & Comments35
National income is used to measure
A
a country's population size
B
a country's economic growth
C
the human level of cevelopment
D
the floe of imports to a country
correct option: b
Users' Answers & Comments36
A tax is regressive if the
A
rate of tax is constant at all income levels
B
rate of tax decrease as income increases
C
rate of tax increases as income increases
D
tax is direct rather than indirect
correct option: b
Users' Answers & Comments37
When a country's net income from abroad is added to its total output, the result is
A
gross domestic product
B
net national product
C
gross national product
D
net domestic product
correct option: a
Users' Answers & Comments38
A fall in national output will necessitate
A
a rise in expenditure on imports
B
a rise in the level of savings
C
an increase in the consumption of expenditure
D
a rise in the standard of living
correct option: b
Users' Answers & Comments39
The demand for money to take advantage of changes in bond prices is the
A
unforeseen motive
B
transaction motive
C
speculative motive
D
precautionary motive
correct option: c
Users' Answers & Comments40
cost push inflation is caused by a
A
rise in the cost of production
B
decrease in the transportation cost
C
rise in demand for goods
D
decrease in the cost of production
correct option: a
Users' Answers & Comments