Economics Past Questions And Answers
101
in a country with large population of full-time housewives, national income
- A. will be composed of goods produced by women
- B. figures will be grossly under-stated
- C. statistics will be difficult to calculate
- D. figures will be grossly under-stated
102
Crude petroleum is a good example of a?
- A. lasting asset
- B. wasting asset
- C. synthetic product
- D. costless resources
103
The most frequent occurring value in a given data is the
- A. mode
- B. median
- C. mean
- D. range
104
The excess profit made by the firm in the short-run is represented by
- A. ORTZ
- B. OPVY
- C. ORTW
- D. ORSX
105
The determinants of elasticity include?
- A. price, time and availability of alternatives
- B. technology and cost of production
- C. time and availability of alternatives
- D. price, time and technology changes
106
Macroeconomics is a study of economics science from the point of view of?
- A. resource markets or production units
- B. individual producers or consumers
- C. aggregate or general economy
- D. companies or individual firms
107
When the federal government guarantees a loan for a state government, such a loan constitutes
- A. a public debt
- B. a transferred debt
- C. a private debt
- D. an inter-governmental debt
108
A change from one industry to another by a worker is an example of
- A. geographical mobility
- B. horizonatal mobility
- C. professional advancement
- D. veritcal mobility
109
which of the following is not a visible item in international trade payments?
- A. payments for imported cars
- B. receits from cocoa exports
- C. receipts from oil exports
- D. payments to foreign shipping companies
110
Why are West African countries referred to as under-developed?
View Discussion (0)WAEC 1995 THEORY