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Economics 1998 WAEC Past Questions

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21
The problem of small markets in West Africa can be solved through
  • A. separate planning among the West African countries
  • B. meaningful- co-operation among the West African countries
  • C. political stability in West Africa
  • D. imposing of high tarrifs on West African exports
  • E. the central banks of West African countries
View Answer & Discuss WAEC 1998
22
An imperfect competitor is in equilibrium when
  • A. Marginal cost (MC) is equal to Marginal Revenue (MR)
  • B. Marginal Revenue (MR) equal to Price (P)
  • C. Average Revenue(AR) is equal to Average Cost (AC)
  • D. Output (Q) is equal to Average Revenue (AR)
  • E. Average Revenue (AR) is equal to Marginal Revenue (MR)
View Answer & Discuss WAEC 1998
23
Which of the following is used to measure inflation?
  • A. Opem market operation
  • B. Cash-deposit ratio
  • C. price index
  • D. Multiplier
  • E. Fiscal policy
View Answer & Discuss (3) WAEC 1998
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24

If a government which owned a company N10,000 in 1966 paid the debt fully in 1985 when the value of money has depreciated by 20 Percent, such a government had

  • A. lost
  • B. been placed at par with the company
  • C. gained
  • D. stabilizing the value of money
  • E. increased the value of money
View Answer & Discuss (1) WAEC 1998
25
Banks create money by
  • A. giving drafts to customers
  • B. printing more money
  • C. lending our deposits to borrowers
  • D. issuing cheques
  • E. depositing exes cash in the trills
View Answer & Discuss WAEC 1998
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