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Economics 2004 WAEC Past Questions

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36
One disadvantages of direct tax is that
  • A. government's revenue is reduced
  • B. price of essential commodities fall
  • C. people are discouraged from additional work
  • D. firms make more profit
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37
International trade is an application of the principle of
  • A. industrial production
  • B. mass production
  • C. regional co-operation
  • D. comparative cost advantage
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38
Trade among West African countries is poor because the
  • A. countries are self-sufficient
  • B. communication links are weak
  • C. number of banks is insufficient
  • D. people are not enterprising
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39
A policy by which government restrict the amount of foreign currencies bought and sold is known as
  • A. devaluation
  • B. credit creation
  • C. exchanging control
  • D. export promotion
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40
which of the following item is under the capital account of a balance of payment?
  • A. repayment of foreign loans
  • B. visible imports
  • C. invisble exports
  • D. cocoa exports
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