Waec Economics 2001 Past Questions and Answers

Question 36:

• WAEC 2001

Short-term loans can be sourced from

A. The central banks
B. Development banks
C. Mortgage banks
D. Commercial banks

Question 37:

• WAEC 2001

if there is an increase in wages and salaries without corresponding increase in the supply of goods and services, the situation will lead to

A. A reduction in aggregate demand
B. Inflation
C. Depression
D. Budget surplus

Question 38:

• WAEC 2001

public expenditure can be financed from all the following sources except the

A. Borrowing
B. Grant-in-aid
C. Royalties and rent
D. Mobilization fees

Question 39:

• WAEC 2001

which of the following is a direct tax

A. Import duty
B. Export duty
C. Capital gain tax
D. Sales tax

Question 40:

• WAEC 2001

Tax evasion means

A. Postponing paymeny of tax
B. Tax payment according to ability to pay
C. Making false declaration of taxable income
D. Paying little amount of money as tax