2012 - WAEC Economics Past Questions and Answers - page 5
41
The following are reasons for failure of agricultural policies in West Africa except
A
vague policy statements
B
negation of polices
C
creation of agro-service stations
D
provision of obsolete implements
correct option: c
Users' Answers & Comments42
A situation in which the estimated government revenue is les than the proposed expenditure for a given year can be described as
A
surplus budgeting
B
supplementary budgeting
C
balanced budgeting
D
deficit budgeting
correct option: d
Users' Answers & Comments43
An excise tax is imposed on goods
A
smuggled into the country
B
manufactured locally
C
imported into the coutry
D
seized by custom officials
correct option: b
Users' Answers & Comments44
Which of the following will not retard economic development in West Africa?
A
dependence on imports
B
population control
C
hhigh level of illiteracy
D
low level of savings
correct option: b
Users' Answers & Comments45
When there is improvement in a country's terms trade, it means that the country's
A
exports are cheaper relative to imports
B
imports are cheaper relative to exports
C
volme of imports has declined
D
volume of exports has declined
correct option: c
Users' Answers & Comments46
Which of the following is true about import substitution? it
A
helps in increasing exportation
B
is meant to reduce exportation
C
enables a country to curtail importation
D
enables a country to improve on importation
correct option: c
Users' Answers & Comments47
Balance of payments problem can be corrected through
A
increasing foreign reserves
B
increasing domestic borrowing
C
import promotion strategies
D
export promotion strategies
correct option: d
Users' Answers & Comments48
One of the reasons why government may erect a trade barrier is to
A
control foreign currencies
B
protect infant industries
C
promote importation
D
diverisify the economy
correct option: b
Users' Answers & Comments49
Which of the following is not a function of the West African Development Bank?
A
Promotion of both private and public investments in member states
B
Financing and executing projects in member states
C
Promotion of social development of member states
D
harmonization of oil prices to the advantage of member states
correct option: b
Users' Answers & Comments