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Economics 1998 WAEC Past Questions

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26
The West African house was established to
  • A. finance development projects in Africa
  • B. enhance financial transaction among memebers countries
  • C. provide technical assistance to memebers countries
  • D. stabilize price in developing countries
  • E. service the debts of the African Countries
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27
which of the following is a factor affecting the size of national income?
  • A. size of the active population
  • B. taste of the consumers
  • C. Number of registered trade unions
  • D. Credit-worthiness of the neighbouring countries
  • E. Regularity of payment of national debt
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28
The expenditure of a firm on goods and services for the expansion of its productive capacity is known as
  • A. income
  • B. investment
  • C. savings
  • D. profits
  • E. interest
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29
An increase in marginal propensity to save will lead to
  • A. an increase in marginal propensity to consume
  • B. a decrease in the level of consumption
  • C. an immediate decrease in the net national income
  • D. an increase in the level of consumption
  • E. a decrease in the level of savings
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30
progressive system of taxation implies that the
  • A. poor pay relatively more
  • B. tax rate falls as the tax base increases
  • C. tax rate increases as the tax base increases
  • D. average and marginal rate of tax will be the same
  • E. rich and the poor pay the same amount as tax
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