Waec Economics 2010 Past Questions and Answers

Question 31:

• WAEC 2010

Which of the following over estimates the value of national income?

A. Incomplete statistical data
B. Wrong timing of computation
C. Changes in price of goods within the year
D. Double counting

Question 32:

• WAEC 2010

The total stock of money available for use in an economy is

A. A function of money
B. A characteristics of money
C. The demand for money
D. The supply of money

Question 33:

• WAEC 2010

Which of the following is not a reason for holding money?

A. Ostentation
B. Speculations
C. Transactions
D. Precautionary

Question 34:

• WAEC 2010

The best way of combating demand-pull inflation is to

A. Increase income taxes
B. Reduce income taxes
C. Increase import duties
D. Increase salaries and wages

Question 35:

• WAEC 2010

In which of the following ways has inflation adversely affected your country’s economy?

A. Increase in money supply
B. A fall in real income
C. Appreciation in the value of money
D. Increased employment