Waec Economics 1990 Past Questions and Answers

Question 31:

• WAEC 1990

One major function of the Central Bank is to

A. Mint money
B. Hold demand deposit and honour cheques
C. Act as a medium of exchange
D. Create money
E. Control and regulate money supply

Question 32:

• WAEC 1990

Distribution involves the

A. Movement of raw materials to production centres
B. Transfer of goods and services from one market to another
C. Movement of goods and services by middlemen to urban centres
D. Transfer of goods and services from wholesalers to consumers
E. Transfer of goods and services from production centre to consumers

Question 33:

• WAEC 1990

Disguised unemployment

A. Is a statistical artifacts with no economic meaning
B. Can be eliminated if the capital output ratio is increased
C. Can be eliminated if the press is free
D. Calls for the implementation of five=year plans
E. Exist when manpower is not being utilized efficiently

Question 34:

• WAEC 1990

The Nigerian economy can be best describe as a

A. Socialist economy
B. Capitalist economy
C. Mixed economy
D. Controlled economy
E. Domestic economy

Question 35:

• WAEC 1990

The amount of money to be created by commercial banks is actually influenced by the

A. Legal reserved ratio
B. External reserve
C. External borrowing
D. Availability of money and capital market
E. Bank deposits