Economics Past Questions And Answers
The relationship between tax rate and income which is relevant to a progressive tax is shown by
- A. curve X
- B. curve Y
- C. curve Z
- D. curve X and Z
A type of unemployment which occurs due to technological progress is called
- A. frictional unemployment
- B. residual unemployment
- C. structural unemployment
- D. mass unemployment
In order to develop the banking habit of rural dwellers, the traditional money lenders should be
- A. proscribed
- B. legalized
- C. subsidized
- D. heavily taxed
which of the following is not item of capital expenditure?
- A. Construction of highways
- B. Building of dams
- C. payment of salaries and wages
- D. building of a new universities
The decision to consume more of one product under normal circumstances will apply
- A. less of another product will be consumed
- B. more of another product will be consumed
- C. less of the product will be consumed
- D. no other products will be consumed
Which of the following producer is closest to being a monopolist?
- A. A baker
- B. A wheat farmer
- C. A large chain store
- D. An automobile plant
The lower the price of a commodity, the greater the quantity demanded. This is based on the assumption that the consumers’
- A. income is diminished
- B. income remains the same
- C. utility is diminished
- D. population is high
(a) What are capital goods.
(b) Explain the problems associated with the distribution of goods in your country.
View Discussion (0)WAEC 2005 THEORYCensus figure of most countries in West Africa is inaccurate because of
- A. low cost of enumeration
- B. low per capita income
- C. high degree of illiteracy
- D. high level of civilization
One of the internal economies of large scale production is
- A. administrative economies
- B. market economies
- C. regional economies
- D. horizontal economies