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4251

The location of iron and steel industry at a place is due to 

  • A. easy access to raw materials
  • B. access to cheap labour
  • C. government policy
  • D. good infrastructure
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4252

Import substitution as a strategy of industrialization is the 

  • A. replacement of locally produced goods with imported ones
  • B. development of locally produced goods with imported ones
  • C. establishment of firms to process imported raw materials
  • D. act of using local inputs to produce goods for export
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4253

Which of the following are intermediate products?

  • A. Cement and steel
  • B. Furniture and shirt
  • C. Handkerchief and shoe
  • D. Table and door 
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4254

How is NNP at factor cost derived from GNP at market prices? 

  • A. GNP - Depreciation + Indirect taxes + Subsidies
  • B. GNP Depreciation - Indirect taxes + Subsidies
  • C. GNP + Depreciation Indirect taxes - Subsidies
  • D. GNP+ Depreciation- Indirect taxes + Subsidies 
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4255

Inflation may occur if 

  • A. rate of productivity is higher than the wage rate
  • B. prices fluctuate during a particular season of the year
  • C. wage increase is granted without an increase in productivity
  • D. the government embarks on restrictive monetary policies
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free