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Economics WAEC Past Questions

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1876

When a government cuts down her expenditure to reduce inflation, she has embarked on___________

  • A. A restrictive Fiscal policy.
  • B. An expansionary monetary policy.
  • C. Physical policy.
  • D. Implementing budget deficit
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1877

In order to enable the government of a country to increase its tax revenue, it will be advisable for it to increase taxes on_______

  • A. Textile materials with elastic demand
  • B. Alcoholic beverages with inelastic demand
  • C. Agricultural products with inelastic supply
  • D. Luxury goods with elastic supply
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1878

People who dispose of their assets are expected to pay ______________

  • A. value added tax
  • B. capital gains tax
  • C. expenditure tax
  • D. sales tax
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1879

A floating exchange rate means that the exchange rate is fixed by the __________

  • A. Central bank of the country
  • B. Forces of demand and supply
  • C. International monetary fund (IMF)
  • D. Ministry of Finance
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1880

A measure that can be adopted to correct a country 's balance of payments deficit is ____________

  • A. Allow the currency to appreciate to encourage imports.
  • B. Allow the currency to depreciate to encourage imports
  • C. Adopt import substitution strategy
  • D. Restrict trade with all countries
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