Economics Past Questions And Answers
In order to discourage the importation of manufactured goods, a country should adopt
- A. import promotion strategy
- B. export led strategy
- C. liberal foreign exchange
- D. import substitution strategy
If budget deficits are financed by borrowing, the crowing-out effect can be offset by an increase in
- A. government expenditure
- B. savings
- C. interest rates
- D. exchange rates
The supply of land for agricultural purpose can be increased through _______
- A. The introduction of mechanized farming
- B. reclamation and irrigation
- C. increase in prices of land
- D. conversion of building sites to farmlands
If the government fixed a price of a commodity above equilibrium price, the quantity supplied will be
- A. less than quantity demanded
- B. equal to the qauntity demanded
- C. greater than quantity demanded
- D. equal to zero
What is the average total cost when output is 200 units in the table below is
- A. N1.00
- B. N2.0
- C. N1.20
- D. N2.40
Which of the following agencies help to stabilize farmers' income?
- A. Local government authorities
- B. Trade unions
- C. Marketing boards
- D. Co-operative organizations
Explain:
(a) (i) supply of money (ii) Value of money
(b) highlight the three motives for holding money.
View Discussion (0)WAEC 2007 THEORYWhich of the following will enhance productivity in an economy?
- A. The use of obsolete capital
- B. Technological change
- C. Expansion of land under cultivation
- D. An increase in the labour force
One way to solve the economic problem of inflation in a country is by increasing the
- A. supply of commodities
- B. supply of currency
- C. salaries of workers
- D. demand for commodities
Petroleum is the mainstay of the Nigerian economy because it is the?
- A. main foreign exchange earner
- B. greatest employer of labour
- C. greatests contributor to the growth of agriculture
- D. source of high income for its workers