Waec Economics Past Questions and Answers

Question 81:

• WAEC 1989

A legal tender is any

A. Form of money
B. Means of exchange authorized by the state
C. Commodity generally acceptable as a meduim of exchange
D. Total productivity of labour
E. Amount of goods and services that the wage can fetch

Question 82:

• WAEC 1989

Wages are to some extent determine by the

A. Marginal utility of labour
B. Marginal productivity of labour
C. Average productivity of labour
D. Total productivity of labour
E. Amount of goods and services that the wage can fetch

Question 83:

• WAEC 1989

Inflation in any economy

A. Has no monetary connection
B. Implies a sustained decrease in the general price level
C. Always increase the value of national currency
D. Tends to redistribute income arbitrarily
E. Tends to bring down market prices

Question 84:

• WAEC 1989

which of these does not encourage industrial development?

A. Tax exemption
B. Provision of financial institution
C. Provision of infrastructural facilities
D. Limitation of markets for industruial products
E. Government direct participation

Question 85:

• WAEC 1989

which of these does not encourage industrial development?

A. Tax exemption
B. Provision of financial institution
C. Provision of infrastructural facilities
D. Limitation of markets for industruial products
E. Government direct participation