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Economics WAEC Past Questions

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106
which of the following best describes the budget? A
  • A. plan of government's needs and expenditure for a year
  • B. detailed estimate of government financial operation for a year
  • C. satisfactory balance between income and expenditure for one year
  • D. plan for importation of essential goods and services for one year
  • E. plan for control of government industries and corporations for one year
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107
Which of the following is not done by the NNPC?
  • A. production of crude oil
  • B. Refining of crude oil
  • C. Exploration for crude oil
  • D. Exploitation of crude oil
  • E. Pricing of crude oil
View Answer & Discuss WAEC 1990
108
One major function of the Central Bank is to
  • A. mint money
  • B. hold demand deposit and honour cheques
  • C. act as a medium of exchange
  • D. create money
  • E. control and regulate money supply
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109
Distribution involves the
  • A. movement of raw materials to production centres
  • B. transfer of goods and services from one market to another
  • C. movement of goods and services by middlemen to urban centres
  • D. transfer of goods and services from wholesalers to consumers
  • E. transfer of goods and services from production centre to consumers
View Answer & Discuss WAEC 1990
110
Disguised unemployment
  • A. is a statistical artifacts with no economic meaning
  • B. can be eliminated if the capital output ratio is increased
  • C. can be eliminated if the press is free
  • D. calls for the implementation of five=year plans
  • E. exist when manpower is not being utilized efficiently
View Answer & Discuss WAEC 1990
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