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Economics WAEC Past Questions

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346
In the long-run, potential GNP is variable because. I technological change takes place II the quantity of labour and capital is not fixed III. unemployment is not constant
  • A. I only
  • B. II only
  • C. I and II only
  • D. I and III only
  • E. III only
View Answer & Discuss WAEC 1997
347
for two commodities A and B, MA and MB are the respective marginal utilities while PA and PB are the respective prices. Marginal utilities of the commodities are maximized when
  • A. MA/PA = MB/PB
  • B. MA/PA > MB/PB
  • C. MA/PA < MB/PB
  • D. PA/MA < PB/MB
  • E. PA/MA > PB/MB
View Answer & Discuss WAEC 1997
348
If the price of product K declines , the demand curve for the complementary product J will
  • A. remain unchanged
  • B. shift to the right
  • C. decrease
  • D. shift to the left
  • E. slopes upwards
View Answer & Discuss (4) WAEC 1997
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
349
a stock exchange is a market that
  • A. deals with the exchange of commodities
  • B. deals with purchase and sales of securities
  • C. exchanges stockfish for lady fish
  • D. exchanges treasury bills for bills of exchange
  • E. sells foreign exchange
View Answer & Discuss WAEC 1997
350
The situation whereby government revenue is less than government expenditure is referred to as
  • A. budget deficit
  • B. balanced budget
  • C. budget surplus
  • D. budget statement
  • E. unfavourable budget
View Answer & Discuss WAEC 1997
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Your School's Whatsapp Group - Join Us now
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