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Economics 1995 WAEC Past Questions

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11
Government can influence aggregate demand through all the following measures except
  • A. reduction in personal income tax
  • B. retirement of director-general in the public service
  • C. creation of employment opportunities
  • D. compulsory deduction from salaries of all categories of workers
  • E. upward revision of workers fringe benefits
View Answer & Discuss WAEC 1995
12
The term production in Economics means
  • A. manufacturing of goods
  • B. the creation of utilities
  • C. giving birth to children
  • D. the distribution of goods and services
  • E. using labour in creating something
View Answer & Discuss (1) WAEC 1995
13
Under the socialist economy , the decision on what to produce is determined by the
  • A. producer
  • B. level of expected profit
  • C. price
  • D. Government
  • E. preference of consumers
View Answer & Discuss WAEC 1995
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14
Credit creation by banks is limited by
  • A. an increase in bank deposits
  • B. the establishment of specialized banks
  • C. the non-availability of clllateral security
  • D. the use of cheques for all transactions of the banks
  • E. abolishing the reverse ratio
View Answer & Discuss WAEC 1995
15
Which of the following explains marginal cost?
  • A. Overhead cost plus variable cost resulting from production
  • B. the average cost of producing more units of the products
  • C. The extra cost of producing more units of products
  • D. Overhead cost minus variable cost
  • E. The additional to total cost resulting from the production of an additional unit
View Answer & Discuss WAEC 1995
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