Waec Economics Past Questions and Answers

Question 1186:

• WAEC 2010

Which of the following group of accounts make up the balance of payments?

A. The current account multiple account and capital account
B. Monetary movement account;company account and international account
C. Cash acount; double entry account and current account
D. Capital account; current account and monetary movement account

Question 1187:

• WAEC 2010

A country's balance of payment is deficit when

A. A country's payment for imports of visible goods are greater than her receipts from exports of visible goods
B. The total receipts from her exports of visible and invisible goods are greater than her payments for visible and invisible imports
C. It can record a surplus on current account of her balance of payment accounts
D. The total payment for visible and invisible imports are greater than the total receipts from her exports of visible and invisible goods

Question 1188:

• WAEC 2010

In order to stabilize oil price in the world market, there is the need for OPEC members to

A. Always have budget deficit
B. Encourage competition among themselves
C. Adhere to production quotas
D. Fix the price of non-oil products

Question 1189:

• WAEC 2010

Which of the following is not a member of the Economic Community of West African State (ECOWAS)?

A. Cape Verde
B. Senegal
C. Cameroon
D. Niger

Question 1190:

• WAEC 2010

Which of the following is not an international economic organization?

A. Economic Commission for Africa (ECA)
B. African Development Bank (ADB)
C. World Health Organization (WHO)
D. International Monetary Fund (IMF)