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Economics WAEC Past Questions

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1761

What happens when the central bank increases the bank rate?

  • A. Amount of borrowing increases
  • B. Amount of borrowing decreases
  • C. Supply of money increases
  • D. Commercial banks are not affected
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1762

Insurance Companies are similar to commercial banks in that they

  • A. Compensate their customers for losses
  • B. act as lender of last resort
  • C. help in maintaining monetary stability in a nation
  • D. help in mobilizing savings for investment
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1763

In most developing countries, a large percentage of the labour force is engaged in

  • A. trading
  • B. mining
  • C. agriculture
  • D. manufacturing
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1764

In most underdeveloped countries, development plans do not achieve their objective due to

  • A. poor coordination between local and national governments
  • B. exportation of more primary products
  • C. lack of educational institutions in those countries
  • D. urban-rural migration of citizens
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1765

In a period of unemployment and falling prices, the government should adopt a

  • A. zero-based budget
  • B. budget deficit
  • C. balanced budget
  • D. surplus budget
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts