Waec Economics 2021 Past Questions and Answers

Question 36:

• WAEC 2021

Demand-pull inflation can be as a result of ____________

A. Increase in the cost of production.deficit financing by the government.
B. Excessive supply of foodstuff
C. Increase in import duties.

Question 37:

• WAEC 2021

An increase in cash ratio by the central bank will ____________

A. Increase the supply of money.
B. Increase banks lending
C. Encourage borrowing.
D. Reduce the supply of money.

Question 38:

• WAEC 2021

When a government cuts down her expenditure to reduce inflation, she has embarked on ____________

A. A restrictive Fiscal policy.
B. An expansionary monetary policy.
C. Physical policy.
D. Implementing budget deficit

Question 39:

• WAEC 2021

In order to enable the government of a country to increase its tax revenue, it will be advisable for it to increase taxes on ____________

A. Textile materials with elastic demand
B. Alcoholic beverages with inelastic demand
C. Agricultural products with inelastic supply
D. Luxury goods with elastic supply

Question 40:

• WAEC 2021

People who dispose of their assets are expected to pay ____________

A. Value added tax
B. Capital gains tax
C. Expenditure tax
D. Sales tax