Waec 1992 Economics Past Questions And Answers
Which of the following is not function of central bank
- A. Banker to the Government
- B. Banker's bank
- C. Acceptance of deposit from the public
- D. Responsibility for monetary policy
when price of a commodity is fixed by the law either below or above the equilibrium, the mechanism is known as
- A. price discrimination
- B. price control
- C. perfect market
- D. equilibrium price
Proportional tax is a tax whose
- A. percentage rate remains constant as the tax base increases
- B. percentage base increases as the tax base increases
- C. percentage rate decreases as the tax rate increases
- D. percentage rate fluctuates as the tax base increases
A change in supply implies a
- A. shift in the supply curve to the right and not to the left
- B. shift in supply curve to the left and not to the right
- C. shift in supply curve to the left or to the right
- D. movement along the supply curve
Middlemen do encounter problems in the process of carrying out their business. Explain.
View Discussion (0)WAEC 1992 THEORYthe largest part of the revenue of a country is derived from
- A. direct taxation
- B. indirect taxation
- C. excise duties
- D. company taxes
(a) Define price elasticity.
(b) If at N 8.00 per tuber, twenty tubers were demanded and when the price fell to N 6. 00 per tuber, thirty tubers were demanded, what is the elasticity of the demand?
View Discussion (0)WAEC 1992 THEORYThe comparative cost of doctrine of international trade means specialization in production according to
- A. absolute cost advantage
- B. absolute cost disadvantage
- C. comparative cost disadvantage
- D. comparative cost advantage
which of the following does not increase the population of country
- A. an increase in birth rate
- B. a decrease in death rate
- C. emigration
- D. immigration
Land is often different from other factors of production because it
- A. is a free gift of nature
- B. constitutes one-third of the entire world
- C. has different grades
- D. is owned bt individuals