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Economics 1992 WAEC Past Questions

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11
Economic growth is the
  • A. rate of increase in a country's full employment and real output
  • B. rate of increase in a nation's total population
  • C. rate of increase in inflation
  • D. rate of decrease inflation
  • E. growth in birth rate
View Answer & Discuss WAEC 1992
12
The market price of a commodity is determine by the
  • A. total number of people in the market
  • B. total demand for the commodity
  • C. quantity of the commodity supplied
  • D. interaction of demand and supply
  • E. law of demand
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13
if the price of margarine rises substantially, the equilibrium price and quantity of butter demand will
  • A. decrease
  • B. increase
  • C. remain constant
  • D. fluctuate
  • E. be inelastic
View Answer & Discuss WAEC 1992
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14
Money as a unit of account implies that it can be
  • A. counted in units
  • B. use to facilitate exchange
  • C. used to measure the value of goods and services
  • D. used to store goods and services
  • E. used for future payment
View Answer & Discuss (3) WAEC 1992
15
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
  • E. Early marriage
View Answer & Discuss WAEC 1992
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