Waec Economics 1990 Past Questions and Answers

Question 11:

• WAEC 1990

The purchasing power of the Naira will fall when

A. Workers are retrenched
B. The colour of the naira is changed
C. The government cuts all salaries and wages
D. There is inflation
E. The naira is overvalued

Question 12:

• WAEC 1990

Time deposit has the same meaning as

A. Current account
B. Demand deposit
C. Deposit account
D. Bank deposit
E. Bank rate

Question 13:

• WAEC 1990

Which of the following best explain an inflationary situation at current price level?

A. Demand, supply
B. Demand supply
C. Demand = Supply
D. Demand/Supply
E. Demand = zero

Question 14:

• WAEC 1990

The theory of consumer behavior is based on all the following assumption except that the

A. Consumer is assumed irrational
B. Consumer taste remains constant
C. Consumer has budget constraint
D. Consumer aims at maximizing his utility
E. Consumer is exposed to more than one commodity

Question 15:

• WAEC 1990

The Joint Stock Company can be a company whose minimum membership is

A. 2
B. 5
C. 7
D. 10
E. 20