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1751
Who bears the greater burden of the indirect tax when the demand for a commodity is inelastic? The
  • A. wholesaler
  • B. shareholders
  • C. retailer
  • D. consumers
  • E. entreprenuer
View Answer & Discuss WAEC 1996
1752
Economic growth specifically refers to the
  • A. reliance on imported goods in preference to home-made goods
  • B. sustained increase in the output of goods and services per head
  • C. change in technical and institutional arangment of the economy
  • D. continued increase in the depletion of a country's natural resources
  • E. increase in the total number of people in the economy
View Answer & Discuss WAEC 1996
1753
The hourly wages of five employees of the Nigerian Port Authority are N2.52, N3.96, N9.20, and N3.75 respectively. The median hourly wage is
  • A. N2.52
  • B. N3.28
  • C. N3.75
  • D. N3.96
  • E. N9.20
View Answer & Discuss (4) WAEC 1996
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1754
The petroleum industry in Nigeria is an example of a
  • A. capital-intensive industry
  • B. service industry
  • C. labour-intensive industry
  • D. tertiary production industry
  • E. localized industry
View Answer & Discuss WAEC 1996
1755
The international cartel formed to stabilize the world oil market is the
  • A. Economic Commissioner for Africa
  • B. International Monetary Fund
  • C. Organization of Petroleum Exporting Countries
  • D. Organization of Petroleum Importing Countries
  • E. International Trade Organization
View Answer & Discuss WAEC 1996
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