Waec Economics 1996 Past Questions and Answers

Question 21:

• WAEC 1996

Demand-pull inflation results when there is

A. Inadequate improvement in the wage rate of workers
B. Execessive demand due to high purchasing power
C. Excessive supply of raw materials for production
D. Rise in productivity of the factors of production
E. Excessive rise in the standard of living

Question 22:

• WAEC 1996

Changes in the value of money can be measured by

A. The distributors
B. A price index
C. A demand index
D. A supply index
E. The use of cheque

Question 23:

• WAEC 1996

The efficiency of a country's labour force depends on all the following except

A. Improved working conditions
B. Better and health care facilities
C. Adequate training
D. Stable economy
E. Frequent strikes and lock-outs

Question 24:

• WAEC 1996

which of the following is a bank's responsibility to it's shareholders?

A. Making profits
B. Creating money
C. Paying high interest rate
D. Preventing inflation
E. Issuing currencies

Question 25:

• WAEC 1996

Deficit financing means

A. Receiving grants from the IMF
B. Having budget surplus
C. Excessive government spending on banks
D. Borrowing to finance a budget
E. Inadequate supply of money from the finance companies