Waec Economics 2019 Past Questions and Answers

Question 51:

• WAEC 2019

In most underdeveloped countries, development plans do not achieve their objective due to _____________

A. Poor coordination between local and national governments
B. Exportation of more primary products
C. Lack of educational institutions in those countries
D. Urban-rural migration of citizens

Question 52:

• WAEC 2019

In a period of unemployment and falling prices, the government should adopt a _____________

A. Zero-based budget
B. Budget deficit
C. Balanced budget
D. Surplus budget

Question 53:

• WAEC 2019

Balance of trade involves the exchange of _____________

A. Goods only
B. Services only
C. Goods and services
D. Goods and capital

Question 54:

• WAEC 2019

Devaluation of currency may not correct a balance of payments deficit if the demand for export is _____________

A. Perfectly inelastic
B. Perfectly elastic
C. Fairly elastic
D. Unitary elastic

Question 55:

• WAEC 2019

An improvement in a country's terms of trade means that the _____________

A. Nation can export more services
B. Nation's receipts on export are equal to payments on imports
C. Value of her imports is lower than her exports
D. Visible exports is less than visible imports