Waec Economics Past Questions and Answers

Question 1181:

• WAEC 2010

One disadvantages of direct taxes is that they

A. Allocate scarce resources
B. Are not rigid
C. Can be progressive
D. Can be evaded

Question 1182:

• WAEC 2010

Excise duty is levied on

A. The total population
B. Local products
C. Luxury goods
D. The working population

Question 1183:

• WAEC 2010

A component of the national debt of a country is

A. Taxation
B. Bank saving
C. The budget
D. Treasury bills

Question 1184:

• WAEC 2010

When the demand for a good is fairly inelastic, the burden of an indirect tax falls

A. More on the consumers of the goods
B. More on the sellers of the goods
C. On sellers and consumers equally
D. Completely on the capital

Question 1185:

• WAEC 2010

Dumping means the selling of a good in a foreign market at a price that is

A. Below the home market price
B. Above the home market price
C. Equal to the home market price
D. Able to clear the home market price