Waec Economics 2011 Past Questions and Answers

Question 36:

• WAEC 2011

National income is used to measure

A. A country's population size
B. A country's economic growth
C. The human level of development
D. The flow of imports to a country

Question 37:

• WAEC 2011

A tax is regressive if the

A. Rate of tax is constant at all income levels
B. Rate of tax decrease as income increases
C. Rate of tax increases as income increases
D. Tax is direct rather than indirect

Question 38:

• WAEC 2011

When a country's net income from abroad is added to its total output, the result is

A. Gross domestic product
B. Net national product
C. Gross national product
D. Net domestic product

Question 39:

• WAEC 2011

A fall in national output will necessitate

A. A rise in expenditure on imports
B. A rise in the level of savings
C. An increase in the consumption of expenditure
D. A rise in the standard of living

Question 40:

• WAEC 2011

The demand for money to take advantage of changes in bond prices is the

A. Unforeseen motive
B. Transaction motive
C. Speculative motive
D. Precautionary motive