Waec Economics Past Questions and Answers

Question 1171:

• WAEC 2010

Which of the following equation is appropriate for determining the Net Domestic Product (NDP)?

A. NDP = GNP - depreciation
B. NDP = GDP + Net Income from abroad
C. NDP = GDP - depreciation
D. NDP = GDP * Net Income from abroad

Question 1172:

• WAEC 2010

Which of the following over estimates the value of national income?

A. Incomplete statistical data
B. Wrong timing of computation
C. Changes in price of goods within the year
D. Double counting

Question 1173:

• WAEC 2010

The total stock of money available for use in an economy is

A. A function of money
B. A characteristics of money
C. The demand for money
D. The supply of money

Question 1174:

• WAEC 2010

Which of the following is not a reason for holding money?

A. Ostentation
B. Speculations
C. Transactions
D. Precautionary

Question 1175:

• WAEC 2010

The best way of combating demand-pull inflation is to

A. Increase income taxes
B. Reduce income taxes
C. Increase import duties
D. Increase salaries and wages