Waec Economics 2008 Past Questions and Answers

Question 46:

• WAEC 2008

Which of the following will have a more destabilizing effect on the economy?

A. A tax on the price of vehicle
B. A tax on petrol
C. A decrease in the supply of vehicle
D. Moderate increase in wages

Question 47:

• WAEC 2008

An important feature of economic development is

A. Population explotion
B. Reduction in exports
C. High literacy level
D. Low exports

Question 48:

• WAEC 2008

Trades among nations is desirable because

A. Enables people in a coutry to know those in other countries
B. Makes it possible for people in a country to enjoy the goods and services produced in other countries
C. Enables residents in country a to understand the language of residents of other countriesd
D. Makes it possible for a country to have the currencies of other countries

Question 49:

• WAEC 2008

Invisible trade refers to trade in

A. Services
B. Goods and services
C. Tangible goods
D. Crude oil

Question 50:

• WAEC 2008

Balance of payment surplus implies that the value of the country’s

A. Exports exceeds its imports
B. Imports exceed its exports
C. Exports is equal to its imports
D. Terms of trade is constant