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Economics 1990 WAEC Past Questions

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11
Time deposit has the same meaning as
  • A. current account
  • B. demand deposit
  • C. deposit account
  • D. bank deposit
  • E. bank rate
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12
Which of the following best explain an inflationary situation at current price level?
  • A. Demand, supply
  • B. Demand supply
  • C. Demand = Supply
  • D. Demand/Supply
  • E. Demand = zero
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13
The theory of consumer behavior is based on all the following assumption except that the
  • A. Consumer is assumed irrational
  • B. Consumer taste remains constant
  • C. Consumer has budget constraint
  • D. Consumer aims at maximizing his utility
  • E. Consumer is exposed to more than one commodity
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14
The Joint Stock Company can be a company whose minimum membership is
  • A. 2
  • B. 5
  • C. 7
  • D. 10
  • E. 20
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15
Limited liability in Economics means that
  • A. a shareholder's liability in the event of debt or bankruptcy is limited to the amount he has invested
  • B. a shareholder's liability for the debt company is dependent on how much he is owing
  • C. shareholders can not be asked to pay for the debts of the company
  • D. shareholders try to ensure that only a small proportion of the debt comes to them
  • E. shareholders want all the debts paid equally
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