Waec Economics 2017 Past Questions and Answers

Question 36:

• WAEC 2017

A measure of the value of money in an economy is the

A. Size of workers
B. General price
C. Total level of savings
D. Total amount of loans granted by the banks

Question 37:

• WAEC 2017

one characteristic of money is that it should be?

A. A standard of differed payment
B. Stable in value
C. Store of value
D. Acceptance by the central bank

Question 38:

• WAEC 2017

The function that distinguishes commercial banks from the central bank is that the former

A. Is a lender of last resort
B. Accepts deposits from the public
C. Services the public debt
D. Regulates foreign exchange

Question 39:

• WAEC 2017

Direct taxes include?

A. Excise duty
B. Ad valorem tax
C. Specific tax
D. Capital gain tax

Question 40:

• WAEC 2017

The control of aggregate demand through changes in government spending and tax rates is referred to as?

A. Monetary policy
B. Government policy
C. Income policy
D. Fiscal policy