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Economics WAEC Past Questions

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176
when price of a commodity is fixed by the law either below or above the equilibrium, the mechanism is known as
  • A. price discrimination
  • B. price control
  • C. perfect market
  • D. equilibrium price
  • E. market structure
View Answer & Discuss (1) WAEC 1992
177
Money supply is the
  • A. currency available in the banks
  • B. currency in circulation and time deposits
  • C. currency in circulation and saving deposits
  • D. currency in circulation and demand deposits
  • E. money scarcity
View Answer & Discuss WAEC 1992
178
which of the following is not the function of a commercial bank
  • A. accepting deposits from the publicv
  • B. serving as banker to the government
  • C. lending to the public
  • D. safekeeping of valuables
  • E. undertaking foreign exchange transaction of customers
View Answer & Discuss WAEC 1992
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179
inflation caused by increase in demand is known as
  • A. cost-push inflation
  • B. hyper-inflation
  • C. demand-pull inflation
  • D. creeping inflation
  • E. runaway inflation
View Answer & Discuss WAEC 1992
180
indirect tax are taxes which
  • A. are levied on the income and profit of the individuals and firms
  • B. always affects the producer only
  • C. are bassed on the progressive principles
  • D. are based on the regressive principles
  • E. are levied on goods and services purchased by individuals and firms
View Answer & Discuss WAEC 1992
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