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Economics 1995 WAEC Past Questions

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26
The greatest foreign exchange earner for Nigeria before the advent of petroleum was
  • A. mining
  • B. handicraft
  • C. agriculture
  • D. manufacturing
  • E. tourism
View Answer & Discuss WAEC 1995
27
A budget is define as a
  • A. Summary of expected expenditure by individuals and government
  • B. summary of expected income
  • C. record of value of services rendered in a year
  • D. record of goods produced in a year
  • E. summary of expected income and expenditure
View Answer & Discuss (1) WAEC 1995
28
The real value of money is
  • A. its face value
  • B. what it can buy ata a particular time
  • C. its rate of exchange with other currencies
  • D. its intrinsic worth
  • E. its rate of circulation
View Answer & Discuss (1) WAEC 1995
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29
A tax whose rate increases as income increases is
  • A. an indirect tax
  • B. a progressive tax
  • C. a regressive tax
  • D. a direct tax
  • E. a proportional tax
View Answer & Discuss WAEC 1995
30
Which of the following best describes the multiplier?
  • A. products of income and expenditure
  • B. Curves of savings and expenditure
  • C. Ratio of change in income to the expenditure that brought it about
  • D. Constant level of income
  • E. Equality of marginal propensity to consume and save
View Answer & Discuss WAEC 1995
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