Economics Past Questions And Answers
The developments banks are essentially different from commercial banks because they
- A. medium and long term loans
- B. open current accounts for their customers
- C. discount bills of exchange
- D. are lenders of last resort
The control of aggregate demand through changes in government spending and tax rates is referred to as?
- A. monetary policy
- B. government policy
- C. income policy
- D. fiscal policy
the monopolist can determine
- A. price and output
- B. price only
- C. output only
- D. price or output
Explain each of the following terms:
(a) Export promotion
(b) Depreciation
(c) Terms of trade
(d) Balance of trade.
View Discussion (0)WAEC 2004 THEORYThe equilibrium price of mangoes is N1.00. If the price fall to 50k, there will be
- A. an excess demand
- B. an excess supply
- C. a surplus in the market
- D. many sellers in the market
A distinguishing characteristic of consumer co-operative society is that the
- A. the maximum number of shareholders is 20
- B. members are the owners
- C. members are the workers
- D. the minimum number of shareholders is 5
The effect of changes in the condition of demand on a demand schedule with the price constant is?
- A. A movement along the demand curve
- B. deflation of the demand curve
- C. hyperbola formation by the demand curve
- D. shift of the demand curve
The marginal product at the fifth variable factor is
- A. 7
- B. 6
- C. 5
- D. 9
The most common type of business in West African countries is
- A. joint-stock companies
- B. sole proprietorships
- C. Partnership
- D. public enterprises
Which of the following statements must hold if price discrimination is to be possible?
- A. Elasticities in the various markets must not differ
- B. The seller must recognise the possibility of resale
- C. The market must not be separated but integrated
- D. The markets should be seperable and there should be no resale.