Economics 1997 Waec Past Questions and Answers

Question 11 :

• WAEC 1997

The value of money is affected by the

A. Speculative motive
B. Price level
C. Transactionary motive
D. Precautionary motive
E. Employment level

Question 12 :

• WAEC 1997

which of the following is not a problem in the barter economy?

A. Multiple exchange rate
B. Indivisibility of goods and services
C. Double coincidence of wants
D. Bulkness of commodities
E. Inflation

Question 13 :

• WAEC 1997

The optimum population of a country is reached when the

A. Production of goodsand sevices is less than optimum
B. Output per head is at its highest with a given volume of resources
C. Total production increases with a given volume of resources
D. National resources increases as population increases
E. Working population rises at a geometrical rate

Question 14 :

• WAEC 1997

when the death rate for old people and the infant mortality rate are high , with no migration , there will be in the population a higher number of

A. Younger people in the population
B. Children in the population
C. Old people in the population
D. Women in the population
E. Men in the population

Question 15 :

• WAEC 1997

In the long-run, potential GNP is variable because. I technological change takes place II the quantity of labour and capital is not fixed III. unemployment is not constant

A. I only
B. II only
C. I and II only
D. I and III only
E. III only