Waec Economics 2002 Past Questions and Answers

Question 31:

• WAEC 2002

Which of the following is a function of the Central Bank of Nigeria?

A. Serving as a custodians of important valuables
B. Giving advice to customers
C. Serving as banker's bank
D. Creating credit

Question 32:

• WAEC 2002

Who among the following will benefit from inflation?

A. Pensioners
B. Savers
C. Debtors
D. Creditors

Question 33:

• WAEC 2002

inflation can be controlled by increasing

A. Aggregate supply
B. Government expenditure
C. Aggregate demand
D. A deficit budget

Question 34:

• WAEC 2002

Which of the following is a function of merchant banks?

A. Minting of coins
B. Preparation of government budget
C. Keeping watch on external reserves of the country
D. Acting as acceptance houses

Question 35:

• WAEC 2002

personal savings are generally low in West Africa because of

A. The level of income of people
B. The refusal of banks to grant loans
C. Overpopulation
D. Cheaper foreign currencies