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Economics WAEC Past Questions

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1871

The standard of living in two countries can be compared using the___________

  • A. number of industries in each country
  • B. size of their arms and ammunition
  • C. size of their national incomes only
  • D. gross national product per head
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1872

Government can curb inflation by_________

  • A. encouraging banks to lend for any purpose.
  • B. increasing her own expenditure.
  • C. buying treasury bills in the open market.
  • D. selling securities in the open market
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1873

Functions of money does not include_______

  • A. store of value.
  • B. medium of exchange
  • C. standard of deferred payment.
  • D. general acceptability.
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1874

Demand-pull inflation can be as a result of___________

  • A. increase in the cost of production.
  • B. excessive supply of foodstuff
  • C. deficit financing by the government.
  • D. increase in import duties.
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1875

An increase in cash ratio by the central bank will_______

  • A. Increase the supply of money.
  • B. Increase banks lending
  • C. Encourage borrowing.
  • D. Reduce the supply of money.
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