Economics Past Questions And Answers
571
The hoarding of goods is usually experienced when
- A. supply is greater than demand
- B. the market price above the equilibrium price
- C. demand is greater than supply
- D. excess demand is greater than excess supply
572
Which of the following functions do retailers perform in an economy?
- A. Production
- B. Exchange
- C. Hoarding
- D. Distribution
573
If the marginal utility of the last unit of commodity X at N2 is 16 and that of commodity Y at N 4 is 24, the consumer will be at equilibrium when
- A. the price-quantity ratios are equal
- B. equal amounts of X and Y are consumed
- C. less of Y and more of X are consumed
- D. less of X and more of Y are consumed
574
One of the assumptions of the cardinal approach is
- A. diminishing marginal rate of substitution
- B. the consistency and transitivity of choice
- C. that total utility depends on the quantity of the commodities consumed
- D. unstable marginal utility of money
575
The raising of funds by selling stocks to the public is called?
- A. equity financing
- B. stock financing
- C. debt financing
- D. loan financing
576
Highlight the economic problems associated with the dependency of West African countries on primary production.
View Discussion (0)WAEC 1994 THEORY577
If a country's import bill is high, she can encourage exports by___________
- A. Allowing her currency to depreciate
- B. Allowing her currency to appreciate
- C. Liberalizing importation
- D. Increasing taxes on all locally produced goods
578
Bills of exchange originates from a?
- A. central bank
- B. commercial bank
- C. community bank
- D. development bank
579
A greater burden of the taxes on essential goods is borne by the
- A. lower income group
- B. higher income group
- C. contract workers
- D. newly recruited workers
580
A government may cause a favourable change in her invisible trade account by
- A. developing tourism and other services
- B. imposing high tariff on exports
- C. encouraging people to go for medical treatment abroad
- D. increasing the export of her primary products