Waec Economics Past Questions and Answers

Question 496:

• WAEC 1999

In the money market , money can only be borrowed for

A. Long term
B. Short term
C. Capital project
D. Public utilities

Question 497:

• WAEC 1999

Deflation can be controlled by increase in

A. The bank rate
B. Income tax
C. The price level
D. The budget deficit

Question 498:

• WAEC 1999

Mortgage banks give loan to investors on long term basis to

A. Finance agriculture
B. Establish banks
C. Acquire machinery
D. Build houses

Question 499:

• WAEC 1999

The situation where by a government spends more than its budgets for a fiscal year is known as

A. Extra budget
B. Surplus budget
C. Mid-year budget
D. Deficit budget

Question 500:

• WAEC 1999

In a socialist economy, factors of production are owned and controlled by the

A. Citizens
B. Businessmen
C. Government
D. Foreigners