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Economics Past Questions

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4351

Use this data below to answer the question

The following data relates to the national income of a country.
Gross domestic product = $2800
Net factor income from abroad = $250
Depreciation = $700
Indirect taxes = $120

 

What is the country's Net National Product (NNP) at factor cost?

  • A. $3.050
  • B. $2,680
  • C. $2,230
  • D. $2.220
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4352

The standard of living in two countries can be compared using the___________

  • A. number of industries in each country
  • B. size of their arms and ammunition
  • C. size of their national incomes only
  • D. gross national product per head
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4353

Government can curb inflation by_________

  • A. encouraging banks to lend for any purpose.
  • B. increasing her own expenditure.
  • C. buying treasury bills in the open market.
  • D. selling securities in the open market
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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4354

Functions of money does not include_______

  • A. store of value.
  • B. medium of exchange
  • C. standard of deferred payment.
  • D. general acceptability.
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4355

Demand-pull inflation can be as a result of___________

  • A. increase in the cost of production.
  • B. excessive supply of foodstuff
  • C. deficit financing by the government.
  • D. increase in import duties.
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709