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Economics 2019 WAEC Past Questions

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56

In most underdeveloped countries, development plans do not achieve their objective due to

  • A. poor coordination between local and national governments
  • B. exportation of more primary products
  • C. lack of educational institutions in those countries
  • D. urban-rural migration of citizens
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57

In a period of unemployment and falling prices, the government should adopt a

  • A. zero-based budget
  • B. budget deficit
  • C. balanced budget
  • D. surplus budget
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58

Balance of trade involves the exchange of

  • A. goods only
  • B. services only
  • C. goods and services
  • D. goods and capital
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59

Devaluation of currency may not correct a balance of payments deficit if the demand for export is

  • A. perfectly inelastic
  • B. perfectly elastic
  • C. fairly elastic
  • D. unitary elastic
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60

An improvement in a country's terms of trade means that the

  • A. nation can export more services
  • B. nation's receipts on export are equal to payments on imports
  • C. value of her imports is lower than her exports
  • D. visible exports is less than visible imports
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