Waec Economics 1998 Past Questions and Answers

Question 21:

• WAEC 1998

Malthus' contention is that

A. Population increase in arithmetic progression while food production increased in geometric progresion
B. Population increased in geometric progression whil food production increased in arithmetic progression
C. Population and food growth rate will, in future, be at par
D. Nations have to get enough manpower to cultivate available land for food
E. Output from agriculture decreased as more and more of the poorer lands were brought into cultivation

Question 22:

• WAEC 1998

The problem of small markets in West Africa can be solved through

A. Separate planning among the West African countries
B. Meaningful- co-operation among the West African countries
C. Political stability in West Africa
D. Imposing of high tarrifs on West African exports
E. The central banks of West African countries

Question 23:

• WAEC 1998

An imperfect competitor is in equilibrium when

A. Marginal cost (MC) is equal to Marginal Revenue (MR)
B. Marginal Revenue (MR) equal to Price (P)
C. Average Revenue(AR) is equal to Average Cost (AC)
D. Output (Q) is equal to Average Revenue (AR)
E. Average Revenue (AR) is equal to Marginal Revenue (MR)

Question 24:

• WAEC 1998

Which of the following is used to measure inflation?

A. Opem market operation
B. Cash-deposit ratio
C. Price index
D. Multiplier
E. Fiscal policy

Question 25:

• WAEC 1998

If a government which owned a company N10,000 in 19196 paid the debt fully in 1985 when the value of money has depreciated by 20 Percent , such a government had

A. Lost
B. Been placed at par with the company
C. Gained
D. Stabilizing the value of money
E. Increased the value of money