Waec Economics 2010 Past Questions and Answers

Question 41:

• WAEC 2010

Excise duty is levied on

A. The total population
B. Local products
C. Luxury goods
D. The working population

Question 42:

• WAEC 2010

A component of the national debt of a country is

A. Taxation
B. Bank saving
C. The budget
D. Treasury bills

Question 43:

• WAEC 2010

When the demand for a good is fairly inelastic, the burden of an indirect tax falls

A. More on the consumers of the goods
B. More on the sellers of the goods
C. On sellers and consumers equally
D. Completely on the capital

Question 44:

• WAEC 2010

Dumping means the selling of a good in a foreign market at a price that is

A. Below the home market price
B. Above the home market price
C. Equal to the home market price
D. Able to clear the home market price

Question 45:

• WAEC 2010

Which of the following group of accounts make up the balance of payments?

A. The current account multiple account and capital account
B. Monetary movement account;company account and international account
C. Cash acount; double entry account and current account
D. Capital account; current account and monetary movement account