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Economics 2019 WAEC Past Questions

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46

The total value of goods and services produced within the borders of a country is

  • A. net national product
  • B. net domestic product
  • C. gross domestic product
  • D. gross national product
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47

Which of the following factors will not underestimate the national income?

  • A. Rapid decrease in prices
  • B. Increased subsistence production
  • C. Practice of specialization of labour
  • D. Increase in value of services not paid for
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48

Which of the following items is not considered as a transfer payment?

  • A. Pension pay
  • B. Government subsidy
  • C. Students' grant
  • D. Doctor's salary
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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49

Which of the following is true of the value of money? It

  • A. is positively related to the price level
  • B. depends on the value people attach to it
  • C. is determined by the government
  • D. is inversely related to the price level
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50

The motive for holding money to meet unforeseen events is termed

  • A. precautionary demand
  • B. transactions demand
  • C. liquidity demand
  • D. speculative demand
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WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208