Waec Economics 2016 Past Questions and Answers

Question 31:

• WAEC 2016

Location of firm in rural areas may

A. Enable the firm to enjoy existing infrastructural facilities
B. Make finance readily avalaible
C. Enhance even or balanced development
D. Make such firm enjoy external economics of scale

Question 32:

• WAEC 2016

International income accounting, double counting occurs when

A. Intermediate goods are counted twice
B. Intermediate goods are counted with the final goods
C. Final goods are counted more than twice
D. Different people count the products

Question 33:

• WAEC 2016

The difference between GDP and GNP

A. Consumption of fixed capital
B. Indirect business tax
C. Net factor income from abroad
D. Public transfer payment

Question 34:

• WAEC 2016

The difference between GDP and GNP

A. Consumption of fixed capital
B. Indirect business tax
C. Net factor income from abroad
D. Public transfer payment

Question 35:

• WAEC 2016

Which of the following items is not included in the measurement of the national income using the income approach

A. Wages and salary
B. Government purchases
C. Interest
D. Divedend