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Economics Past Questions

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1591
Which of the following is not characteristics of a perfect competition ?
  • A. many sellers and buyers are in the market
  • B. there is perfect knowledge of the market situation
  • C. supply and demand are equal
  • D. there is no discrimination
  • E. Products are identical
View Answer & Discuss (1) WAEC 1992
1592
Which of the following is not a negative effect of inflation
  • A. Lenders earn less
  • B. Pensioneers and salary earners on fixed income suffer
  • C. Exports tends to decline
  • D. Savings are discouraged
  • E. Borrowers tends to gain
View Answer & Discuss WAEC 1992
1593
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
  • E. Lenders of last resort
View Answer & Discuss (1) WAEC 1992
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1594
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
  • E. burden falls heavily on consumer
View Answer & Discuss WAEC 1992
1595
the largest part of the revenue of a country is derived from
  • A. direct taxation
  • B. indirect taxation
  • C. excise duties
  • D. company taxes
  • E. non-tax revenue
View Answer & Discuss WAEC 1992
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