Waec Economics 1989 Past Questions and Answers

Question 11:

• WAEC 1989

Which of the following is not appropriate in calculating national income figures?

A. Output method
B. Income method
C. Expenditure method
D. Value added method
E. Depreciation method

Question 12:

• WAEC 1989

What is the correct term for this group of exports : tractor, televisions, components, drugs and cars?

A. Current account items
B. Visible exports
C. Capital accoutn items
D. Invisible exports
E. Visible imports

Question 13:

• WAEC 1989

the indicator of the value of money in the market is the

A. The general price level
B. Effective supply
C. The equilibrium price
D. Effective demand
E. Consumer income

Question 14:

• WAEC 1989

Mobility of labour is not affected by

A. The optimum size of population
B. Marriage and family
C. The regulation of trade unions
D. The period of training
E. Culture and religious beliefs

Question 15:

• WAEC 1989

Given that fixed cost is N500.00, variable cost N1,500.00 and output is 50 units, what will be the average cost of producing one unit?

A. N2,000.00
B. N60.00
C. N50.00
D. N40.00
E. N30.00