Waec Economics Past Questions and Answers

Question 1236:

• WAEC 2011

The production strategy used in an over-populated country is

A. Import substitution
B. Capital intensive
C. Labour intensive
D. First come first employed

Question 1237:

• WAEC 2011

National income is used to measure

A. A country's population size
B. A country's economic growth
C. The human level of development
D. The flow of imports to a country

Question 1238:

• WAEC 2011

A tax is regressive if the

A. Rate of tax is constant at all income levels
B. Rate of tax decrease as income increases
C. Rate of tax increases as income increases
D. Tax is direct rather than indirect

Question 1239:

• WAEC 2011

When a country's net income from abroad is added to its total output, the result is

A. Gross domestic product
B. Net national product
C. Gross national product
D. Net domestic product

Question 1240:

• WAEC 2011

A fall in national output will necessitate

A. A rise in expenditure on imports
B. A rise in the level of savings
C. An increase in the consumption of expenditure
D. A rise in the standard of living