Waec Economics 2010 Past Questions and Answers

Question 36:

• WAEC 2010

Which of the following is a legal tender?

A. Bank notes
B. Bank overdrafts
C. Bills of exchange
D. Money order

Question 37:

• WAEC 2010

The Central Bank controls money supply through all the following except

A. Lending to the publics
B. Bank rate
C. Legal reserve requirements
D. Open market operation

Question 38:

• WAEC 2010

One of the functions of the Central Bank is

A. Production of goods
B. Issuing of currency
C. Presenting budgets
D. Printing of cheque books

Question 39:

• WAEC 2010

The function of the Central Bank as the lender of last resort means that when all other sources fail,

A. The consumer can always borrow money from the Central Bank
B. The government can ask the Central Bank to print more money
C. Commercial banks can raise loans from the Central Bank
D. Commercial banks can deposit money with the Central Banks

Question 40:

• WAEC 2010

One disadvantages of direct taxes is that they

A. Allocate scarce resources
B. Are not rigid
C. Can be progressive
D. Can be evaded