Economics Past Questions And Answers
The relationship between the tax rate and income which is relevant to progressive tax is shown by?
- A. curve X
- B. curve Y
- C. curve Z
- D. curve X and Z
The main objective of the Economic Community of West African State is to?
- A. estabilish a West African Development Bank
- B. create a West African army
- C. introduce a common currency for the sub-region
- D. promote the free movement of persons, goods and services within the sub-region
Insurance companies, pension and provident funds and unit trusts are all examples of
- A. rural-based revenue mobilizers
- B. non-governmental organisations
- C. government financial agencies
- D. non-bank financial institutions
Precautionary motive relates to
- A. demand for money
- B. demands for goods
- C. supply of money
- D. supply of goods
Public ownership of productive factors is a feature of_______?
- A. Socialism
- B. Capitalism
- C. Feudalism
- D. Mixed economy
If income rises from N2000 to N4000 and quantity demanded increase from 80 units to 120 units, find the income elasticity of demand
- A. 0.5
- B. 1.2
- C. 2.5
- D. 4.0
(a) What is public recurrent expenditure? [5 marks]
(b) Give five reasons for the rapid increase in government expenditure in your country. [15 marks]
View Discussion (0)WAEC 2008 THEORYwhich of the following curves is not U shaped
- A. marginal cost curve
- B. average fixed cost curve
- C. average total cost curve
- D. average variable cost
if the marginal utility of a commodity is equal to its price then
- A. the consumer is in equilibrium
- B. more of the commodity can be consumed
- C. total utility is also equal to its price
- D. the market is not in equilibrium
A set of factors that can shift the supply curve are changes in
- A. weather, price and technology
- B. technology, weather and population
- C. technology, price and taste
- D. population, price and taste