Economics 2012 Waec Past Questions and Answers

Question 41 :

• WAEC 2012

In open market operations, what the Central Banks sells or buys are

A. Shares
B. Debentures
C. Securities
D. Equities

Question 42 :

• WAEC 2012

The following are reasons for failure of agricultural policies in West Africa except

A. Vague policy statements
B. Negation of polices
C. Creation of agro-service stations
D. Provision of obsolete implements

Question 43 :

• WAEC 2012

A situation in which the estimated government revenue is less than the proposed expenditure for a given year can be described as

A. Surplus budgeting
B. Supplementary budgeting
C. Balanced budgeting
D. Deficit budgeting

Question 44 :

• WAEC 2012

An excise tax is imposed on goods

A. Smuggled into the country
B. Manufactured locally
C. Imported into the coutry
D. Seized by custom officials

Question 45 :

• WAEC 2012

Which of the following will not retard economic development in West Africa?

A. Dependence on imports
B. Population control
C. High level of illiteracy
D. Low level of savings