Waec Economics 2003 Past Questions and Answers

Question 31:

• WAEC 2003

money becomes a very poor store of value in a period of

A. Deflation
B. Depression
C. Recession
D. Inflation

Question 32:

• WAEC 2003

A continuous fall in the general price level is called

A. Recession
B. Depression
C. Deflation
D. Stagflation

Question 33:

• WAEC 2003

Which of the following is the function of a central bank?

A. Accepting deposits from the public
B. Lending to the commercial banks
C. Discounting bills of exchange
D. Agent of payment for individuals

Question 34:

• WAEC 2003

Cost-push inflation is likely to raise when

A. There is an increase in government spending
B. There is an increase in direct taxes
C. Demand for higher wages is granted
D. There is a decrease in banks lending

Question 35:

• WAEC 2003

The most important function of merchant banks is the

A. Issuing of currency
B. Provision of short term loans
C. Provision of medium and long term loans
D. Provision of short and long term loans