Waec Economics Past Questions and Answers

Question 1176:

• WAEC 2010

In which of the following ways has inflation adversely affected your country’s economy?

A. Increase in money supply
B. A fall in real income
C. Appreciation in the value of money
D. Increased employment

Question 1177:

• WAEC 2010

Which of the following is a legal tender?

A. Bank notes
B. Bank overdrafts
C. Bills of exchange
D. Money order

Question 1178:

• WAEC 2010

The Central Bank controls money supply through all the following except

A. Lending to the publics
B. Bank rate
C. Legal reserve requirements
D. Open market operation

Question 1179:

• WAEC 2010

One of the functions of the Central Bank is

A. Production of goods
B. Issuing of currency
C. Presenting budgets
D. Printing of cheque books

Question 1180:

• WAEC 2010

The function of the Central Bank as the lender of last resort means that when all other sources fail,

A. The consumer can always borrow money from the Central Bank
B. The government can ask the Central Bank to print more money
C. Commercial banks can raise loans from the Central Bank
D. Commercial banks can deposit money with the Central Banks