Waec Economics 2020 Past Questions and Answers

Question 36:

• WAEC 2020

Governments in West Africa can curtail inflation by ____________

A. Purchasing securities in the open market
B. Selling securities in the open market
C. Encouraging importation of goods from all countries
D. Encouraging banks to lend for

Question 37:

• WAEC 2020

The central bank Can reduce the ability of commercial banks to give out loans by ____________

A. Raising the bank rates
B. Reducing special deposits
C. Reducing the liquidity ratio
D. Issuing more currency

Question 38:

• WAEC 2020

Tools of monetary policy do not include ____________

A. Open market operations
B. Reserve requirement
C. Bank rate
D. Tax and public expenditure

Question 39:

• WAEC 2020

During inflation, the appropriate fiscal measure to adopt is to ____________

A. Increase indirect taxes
B. Increase direct taxes
C. Reduce personal income tax
D. Increase government expenditure

Question 40:

• WAEC 2020

Mr. X and Mrs. Y pay $500.00 and $1,400.00 as taxes on their earning of S5,000.00 and $7,000.00 respectively. The system of taxation employed is ____________

A. Specific tax
B. Proportional tax
C. Regressive tax
D. Progressive tax