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Economics WAEC Past Questions

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1261

what happens when the central bank increases bank rate in an economy

  • A. borrowing is discouraged
  • B. customers increase their borrowing
  • C. banks can increase their lending
  • D. money supply increases
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1262

income is redistributed when the rich are progressively taxed and?

  • A. more private schools are established
  • B. subsidy is provided on petroleum products
  • C. more public goods are provided
  • D. farmers are given guaranteed prices
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1263

in order to increase revenue, government should tax commodities for which demand is? 

  • A. perfectly price inelastic
  • B. price inelastic
  • C. price elastic
  • D. unitary elastic
View Answer & Discuss (1) WAEC 2018
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1264

which of the following activities will not lead to economic growth?

  • A. massive importation of capital goods
  • B. intensive capital formation locally
  • C. use of modern technology
  • D. massive importation of consumer goods
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1265

the poorer the country, the larger the percentage of labour force engaged in?

  • A. Agricultural
  • B. mining
  • C. trading
  • D. manufacturing
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