Waec Economics 1999 Past Questions and Answers

Question 21:

• WAEC 1999

In a perfect market price and quantity to be bought are determined by the

A. Consumers and retailers
B. Producers and wholesalers
C. Forces of demand and supply
D. Interest of government and producers

Question 22:

• WAEC 1999

When price elasticity of supply is equal to 0.4, supply is said to be

A. Inelastic
B. Elastic
C. Unitary elastic
D. Public utilities

Question 23:

• WAEC 1999

In the money market , money can only be borrowed for

A. Long term
B. Short term
C. Capital project
D. Public utilities

Question 24:

• WAEC 1999

Deflation can be controlled by increase in

A. The bank rate
B. Income tax
C. The price level
D. The budget deficit

Question 25:

• WAEC 1999

Mortgage banks give loan to investors on long term basis to

A. Finance agriculture
B. Establish banks
C. Acquire machinery
D. Build houses