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Economics WAEC Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
286
A tax whose rate increases as income increases is
  • A. an indirect tax
  • B. a progressive tax
  • C. a regressive tax
  • D. a direct tax
  • E. a proportional tax
View Answer & Discuss WAEC 1995
287
Which of the following best describes the multiplier?
  • A. products of income and expenditure
  • B. Curves of savings and expenditure
  • C. Ratio of change in income to the expenditure that brought it about
  • D. Constant level of income
  • E. Equality of marginal propensity to consume and save
View Answer & Discuss WAEC 1995
288
Net National Product (NNP) is equal to the
  • A. Gross Domestic Product (GDP) less depreciation
  • B. Gross National Products (GNP) less depreciation
  • C. Gross Domestic Products (GDP) plus depreciation
  • D. Gross National Products (GNP) plus depreciation
  • E. Gross National Income plus Taxation
View Answer & Discuss WAEC 1995
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289
Terms of trade simply means the price
  • A. ratio of import to export
  • B. ratio of export multiplied by import
  • C. ratio of export to import
  • D. ratio of export multiplied by price ratio of import
  • E. of export minus price of import
View Answer & Discuss WAEC 1995
290
Balance of trade can be define as
  • A. the value of import in relation to the value of a country's exports
  • B. the price ratio of imports as against that of exports
  • C. equality in the total receipts and payments of a country in a year
  • D. percentage value of imports over percentage value of exports
  • E. price of exports versus price of imports
View Answer & Discuss WAEC 1995
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts