Economics Past Questions And Answers
A discriminatory monopoly is characterized by
- A. a common elasticity in different markets
- B. different elasticities in different markets
- C. a finite elasticity in all markets
- D. zero elasticity in all markets
A debenture holder is entitled to payment in the form of
- A. allowance
- B. interest
- C. salary
- D. donation
The Nigerian economy can be best describe as a
- A. socialist economy
- B. capitalist economy
- C. mixed economy
- D. controlled economy
If the coefficient of price elasticity of supply is greater than one, the supply is said to be
- A. perfectly elastic
- B. fairly inelastic
- C. infinitely inelastic
- D. fairly elastic
Under flexible exchange rates, a deficit could be corrected by?
- A. freezing the gold point
- B. appreciation of other currencies
- C. removing export subsidies
- D. removing tariffs
A country’s aggregate consumption was ?20 million when its GDP was ?100 million. Following an increase in GDP to ?120million, consumption increased to ?25million. The marginal propensity to consume is given as
- A) 0.25
- B) 0.50
- C) 0.75
- D) 0.80
Consider the following diagram where XYZ represents the average curve of a firm. XY shows that as out put increases the average declines. However, this decline cannot continue indefinitely because
- A. managerial economies
- B. indivisibilities
- C. the extent of the market
- D. the pooling of dissimilar risks
buying and selling of shares is a function performed mostly by the
- A. insurance companies
- B. stock exchanges
- C. merchant banks
- D. discount houses
(a) Explain the term capital market.
(b) How is the capital market different from the stock exchange?
(c) What are the advantages of the capital market?
View Discussion (0)WAEC 1994 THEORYIn a particular year, the sum of the value added in each sector of the economy was N4550 million The amount represents the GNP measured by the
- A. factor-price approach
- B. output approach
- C. income approach
- D. expenditure approach