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Economics WAEC Past Questions

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121
if over a period of time there is more money in the economy than the available goods and services , the economy is likely to experience
  • A. devaluation
  • B. inflation
  • C. deflation
  • D. demonetization
  • E. over-valuation
View Answer & Discuss WAEC 1991
122
The value of money is determined by the
  • A. rate of interest
  • B. general price level
  • C. quantity of money in circulation
  • D. level of economic development
  • E. weight of the currency notes and coins
View Answer & Discuss WAEC 1991
123
open market operation are the process by which
  • A. the Central Banks purchases and sells securities
  • B. Commercial Banks purchases and sells securities
  • C. business firms buys raw materials freely
  • D. huseholds buys consumer goods openly
  • E. the money market takes over the function of the Central Banks
View Answer & Discuss WAEC 1991
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124
Devaluation means
  • A. a reduction in the value of the National currency
  • B. a reduction in the purchasing power of the foreign currency
  • C. a reduction in the value of the domestic currency relative to foreign currencies
  • D. an increase in the value of the national currency
  • E. a decrease in the purchasing power of the foreign currencies
View Answer & Discuss WAEC 1991
125
Which of the following functions do retailers perform in an economy?
  • A. Production
  • B. Exchange
  • C. Hoarding
  • D. Distribution
  • E. Investment
View Answer & Discuss WAEC 1991
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