Economics Past Questions And Answers
Census can be classified as
- A. defacto and dejure
- B. increasing and decreasing
- C. over and under
- D. optimum
(a) Explain the methods of measuring the national income of a country
(b) State any three problems associated with measuring national income.
View Discussion (0)WAEC 1996 THEORYDuring a sale by auction, the price at which the goods finally sold is determined mostly by
- A. competition between buyers and sellers
- B. competition among buyers
- C. competition among sellers
- D. government policy
Outline the difficulties encountered by tax collectors in Nigeria.
View Discussion (0)WAEC 1990 THEORYThe use of modern weaving machines in the production of local fabric will result in
- A. an increase in the demand for labour
- B. a decrease in the demand for labour
- C. an increase in wages
- D. a decrease in wages
Use the diagram below to answer this question. Points E6 and E5 are respectively equilibrium points for

- A. Do and So; Do and S2
- B. D1 and S2; D2 and So
- C. D2 and S1; D2 and S2
- D. D2 and So; Do and S2
One feature of the average fixed cost is that it
- A. falls continuously but is never equal to zero.
- B. is U-shaped and intersects the Y-axis
- C. rises and falls faster than the marginal cost
- D. is always higher than the average variable cost
The demand for torch and batteries is an example of
- A. competitive demand
- B. composite demand
- C. complementary demand
- D. derived demand
Which of the following will encourage capital intensive farming
- A. encouraging communal system of land ownership
- B. adopting policies that will encourage rural-urban migration
- C. provision of subsidies on equipment
- D. Restrictive lending policies by banks
Identify one of the following which can NOT be used to close deflationary gap
- A. Increased interest rate
- B. Increased money supply
- C. Increase government expenditure
- D. Reduction in taxes

