Waec Economics 2018 Past Questions and Answers

Question 36:

• WAEC 2018

income is redistributed when the rich are progressively taxed and?

A. More private schools are established
B. Subsidy is provided on petroleum products
C. More public goods are provided
D. Farmers are given guaranteed prices

Question 37:

• WAEC 2018

in order to increase revenue, government should tax commodities for which demand is?

A. Perfectly price inelastic
B. Price inelastic
C. Price elastic
D. Unitary elastic

Question 38:

• WAEC 2018

which of the following activities will not lead to economic growth?

A. Massive importation of capital goods
B. Intensive capital formation locally
C. Use of modern technology
D. Massive importation of consumer goods

Question 39:

• WAEC 2018

the poorer the country, the larger the percentage of labour force engaged in?

A. Agricultural
B. Mining
C. Trading
D. Manufacturing

Question 40:

• WAEC 2018

which of the following measure can be adopted to stabilize the external value of the local currency?

A. Reduce the volume of export
B. Increase the demand for imports
C. Increase domestic money supply
D. Reduce the demand for imports