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Economics WAEC Past Questions

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986

Dumping means the selling of a good in a foreign market at a price that is

  • A. below the home market price
  • B. above the home market price
  • C. equal to the home market price
  • D. able to clear the home market price
View Answer & Discuss WAEC 2010
987

Which of the following group of accounts make up the balance of payments?

  • A. the current account multiple account and capital account
  • B. Monetary movement account;company account and international account
  • C. cash acount; double entry account and current account
  • D. Capital account; current account and monetary movement account
View Answer & Discuss WAEC 2010
988

A country's balance of payment is deficit when

  • A. a country's payment for imports of visible goods are greater than her receipts from exports of visible goods
  • B. the total receipts from her exports of visible and invisible goods are greater than her payments for visible and invisible imports
  • C. it can record a surplus on current account of her balance of payment accounts
  • D. the total payment for visible and invisible imports are greater than the total receipts from her exports of visible and invisible goods
View Answer & Discuss (7) WAEC 2010
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989

In order to stabilize oil price in the world market, there is the need for OPEC members to

  • A. always have budget deficit
  • B. encourage competition among themselves
  • C. adhere to production quotas
  • D. fix the price of non-oil products
View Answer & Discuss WAEC 2010
990

Which of the following is not a member of the Economic Community of West African State (ECOWAS)?

  • A. Cape Verde
  • B. Senegal
  • C. Cameroon
  • D. Niger
View Answer & Discuss WAEC 2010
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