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Economics WAEC Past Questions

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1316

one way of speeding up the economic development of a country is by encouraging

  • A. the consumption of consumer goods
  • B. early marriage
  • C. the importation of more consumer goods
  • D. savings and investment
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1317

Dumping in international occurs when a foreign firm sells

  • A. above its cost of production at home and abroad
  • B. below its cost of production at home and abroad
  • C. more goods to a country than the country has need of
  • D. below its cost of production in a foreign market
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1318

Infant industries can be described as?

  • A. newly established industries
  • B. industries enjoying tax holidays
  • C. industries producing baby products
  • D. newly commercialized industries
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1319

Modern international trade is based on the principle of?

  • A. absolute cost advantage
  • B. comparative advantage
  • C. terms of trade
  • D. balance of trade
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1320

which of the following terms of trade is recorded in a country's current account section of the balance of payments

  • A. investment income
  • B. foreign direct investment
  • C. longterm capital flows
  • D. long-term loans
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