Waec Economics 2002 Past Questions and Answers

Question 26:

• WAEC 2002

Census figure of most countries in West Africa is inaccurate because of

A. Low cost of enumeration
B. Low per capita income
C. High degree of illiteracy
D. High level of civilization

Question 27:

• WAEC 2002

Which of the following is a problem of trade by barter?

A. Exchange rate determination
B. Hoarding
C. How to produce
D. What to produce

Question 28:

• WAEC 2002

Cheques are not money because

A. There use is confined to business hours
B. There are few banks in the rural areas
C. They are not generally acceptable as a medium of exchange
D. They are not issued by government

Question 29:

• WAEC 2002

Which of the following is a liability of commercial banks?

A. Deposits
B. Money at call
C. Loans to customers
D. Overdrafts

Question 30:

• WAEC 2002

The value of money is best determined by its

A. Size
B. Purchasing power
C. Portability
D. Being recognized