Economics 1998 WAEC Past Questions

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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

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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)

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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

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If a government which owned a company N10,000 in 19196 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

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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

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Economics 1998 WAEC Past Questions

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