Waec Economics 2019 Past Questions and Answers

Question 41:

• WAEC 2019

The total value of goods and services produced within the borders of a country is

A. Net national product
B. Net domestic product
C. Gross domestic product
D. Gross national product

Question 42:

• WAEC 2019

Which of the following factors will not underestimate the national income?

A. Rapid decrease in prices
B. Increased subsistence production
C. Practice of specialization of labour
D. Increase in value of services not paid for

Question 43:

• WAEC 2019

Which of the following items is not considered as a transfer payment?

A. Pension pay
B. Government subsidy
C. Students' grant
D. Doctor's salary

Question 44:

• WAEC 2019

Which of the following is true of the value of money? It _____________

A. Is positively related to the price level
B. Depends on the value people attach to it
C. Is determined by the government
D. Is inversely related to the price level

Question 45:

• WAEC 2019

The motive for holding money to meet unforeseen events is termed _____________

A. Precautionary demand
B. Transactions demand
C. Liquidity demand
D. Speculative demand