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Economics 2009 WAEC Past Questions

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41
Government expenditure on the construction of roads and bridges is
  • A. recurrent expenditure
  • B. capital expenditure
  • C. supplementary expenditure
  • D. variable expenditure
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42
Fiscal policy is associated with
  • A. taxation and government expenditure
  • B. re-structuring of the banks
  • C. injection of more money into the economy
  • D. reduction in economic activities
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43
The need for development planning arises largely from the fact that
  • A. aggregate savings exceeds aggregate consumption
  • B. aggregate consumption equals aggregate savings
  • C. productive resource are in excess of the demand for them
  • D. productive resource are scarce relative to the demand for them
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44
Economic development is reflected in the
  • A. scarcity of capital
  • B. increase in the price level
  • C. decline in the agricultural production
  • D. increase in productive capacity
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45
Terms of trade may be define as the
  • A. trade between one country and another
  • B. relationship between country's receipt from others and payment to others
  • C. rate at which a country's export exchange for imports
  • D. different between the value of export and imports
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