Economics 2007 Waec Past Questions and Answers

Question 26 :

• WAEC 2007

The most important quality of money is that it must be

A. Relatively scarce
B. Generally acceptable
C. Portable
D. Durable

Question 27 :

• WAEC 2007

A certain amount of money is needed for everyday expenditure like buying of goods, transportation and others. This is

A. Transaction demand for money
B. Precautionary demand for money
C. Derived demand for money
D. Speculative demand for money

Question 28 :

• WAEC 2007

Long-term loans can be secured from

A. Commercial banks
B. Discount houses
C. Development banks
D. Acceptance houses

Question 29 :

• WAEC 2007

The value of money is generally measured in relation to the

A. Interest rate charged on the bank loans
B. General price level
C. Size of a country's gold stock
D. Volume of imports

Question 30 :

• WAEC 2007

which of the following is true under rapid inflation? People

A. Demand less foreign exchange
B. Set up businesses
C. Rush to pay their taxes
D. Hardly wants to lend money