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Economics WAEC Past Questions

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596
The incidence of an increase in tax on a commodity with perfectly inelastic demand will be on the
  • A. wholesaler
  • B. retailer
  • C. government
  • D. consumer
View Answer & Discuss WAEC 2002
597
Budget surplus implies that
  • A. expenditure equals revenue
  • B. expenditure is less than revenue
  • C. expenditure is greater than taxation
  • D. direct tax is more than indirect tax
View Answer & Discuss WAEC 2002
598
International trade is based on the law of
  • A. absolute cost advantage
  • B. variable proportion
  • C. comparative cost advantage
  • D. mutual co-operation
View Answer & Discuss WAEC 2002
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599
Terms of trade is used to describe
  • A. the quality of exports
  • B. the direction of foreign trades
  • C. purchases on deferred payment basis
  • D. the rate at which exports exchange for imports
View Answer & Discuss WAEC 2002
600
A nation's net export is negative when her
  • A. stock of goods is declining
  • B. depreciation exceeds investment
  • C. exports is adjusted upwards
  • D. imports exceeds exports
View Answer & Discuss WAEC 2002
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