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Economics 1992 WAEC Past Questions

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26
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
  • E. decrease in price and quantity supplied
View Answer & Discuss (1) WAEC 1992
27
Which of the following will increase the GNP of an economy?
  • A. increase government expenditure on the salary of the civil serants
  • B. An increase in the proportion of the productively employed population
  • C. a decrease in the rate of unemployment
  • D. A decrease in the output per worker
  • E. An increase in the population dependency ratio
View Answer & Discuss WAEC 1992
28
A market condition where profit is maximized when MR = AR = MC = P is known as
  • A. monopoly
  • B. oligopoly
  • C. monopsony
  • D. perfect competition
  • E. duopoly
View Answer & Discuss WAEC 1992
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29
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
  • E. market structure
View Answer & Discuss (1) WAEC 1992
30
Money supply is the
  • A. currency available in the banks
  • B. currency in circulation and time deposits
  • C. currency in circulation and saving deposits
  • D. currency in circulation and demand deposits
  • E. money scarcity
View Answer & Discuss WAEC 1992
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