Waec Economics 2004 Past Questions and Answers

Question 41:

• WAEC 2004

which of the following item is under the capital account of a balance of payment?

A. Repayment of foreign loans
B. Visible imports
C. Invisble exports
D. Cocoa exports

Question 42:

• WAEC 2004

A surplus in the balance of payment should be used to

A. Subsidized multinational companies
B. Build infracstructures for friendly nations
C. Make donations to developed countries
D. Buy investment overseas

Question 43:

• WAEC 2004

Development planning which take an overall view of the economy is described as

A. Aggregate economic planning
B. Disaggregate economic planning
C. Sectorial economic planning
D. System economic planning

Question 44:

• WAEC 2004

The national income of a country can be estimated by the

A. Cost-benefit method
B. Distribution method
C. Expenditure method
D. Consumption method

Question 45:

• WAEC 2004

which of the following is excluded when making national income?

A. Dividends
B. Wage and salaries
C. Transfer of payments
D. Profits