Waec Economics Past Questions and Answers

Question 1291:

• WAEC 2012

If Y = income, C = Consumption, I = Investment, X = Export and M = Import, then national income is

A. Y = C - I + (x +m0
B. Y = C + I + (x + m)
C. Y = C +I +(X - M)
D. Y =C + I + (m - x)

Question 1292:

• WAEC 2012

The national income is the

A. Gross Domestic Product at market prices
B. Gross National product at factor cost
C. Net National Product at factor cost
D. Net National Product at market prices

Question 1293:

• WAEC 2012

When depreciation is deducted from Gross National Product, the result is

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

Question 1294:

• WAEC 2012

Mr Akpoti has meat and wants maize, while Mr, Adama has maize and wants meat.transation is possible because of

A. Bank deposit
B. Joint demand
C. Scale of preference
D. Double coincidence of wants

Question 1295:

• WAEC 2012

Which of the following is not a form of money?

A. Coins
B. Bank notes
C. Bank balance
D. Bank deposit