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2451

The production strategy used in an over-populated country is

  • A. import substitution
  • B. capital intensive
  • C. labour intensive
  • D. first come first employed
View Answer & Discuss WAEC 2011
2452

National income is used to measure

  • A. a country's population size
  • B. a country's economic growth
  • C. the human level of development
  • D. the flow of imports to a country
View Answer & Discuss WAEC 2011
2453

A tax is regressive if the

  • A. rate of tax is constant at all income levels
  • B. rate of tax decrease as income increases
  • C. rate of tax increases as income increases
  • D. tax is direct rather than indirect
View Answer & Discuss (1) WAEC 2011
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2454

When a country's net income from abroad is added to its total output, the result is

  • A. gross domestic product
  • B. net national product
  • C. gross national product
  • D. net domestic product
View Answer & Discuss (4) WAEC 2011
2455

A fall in national output will necessitate

  • A. a rise in expenditure on imports
  • B. a rise in the level of savings
  • C. an increase in the consumption of expenditure
  • D. a rise in the standard of living
View Answer & Discuss (2) WAEC 2011
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