Waec Economics Past Questions and Answers

Question 1326:

• WAEC 2013

In the balance of payments of a country, tourism is classified under

A. Capital account
B. Invisible trade
C. Merchandise trade
D. Official reserves

Question 1327:

• WAEC 2013

General rise in the price level induced by increased price of inputs is referred to as

A. Run-away inflation
B. Cost -push inflation
C. Demand -pull inflation
D. Imported inflation

Question 1328:

• WAEC 2013

Which of the following is a function of merchant banks?

A. Acting as bankers' bank.
B. Lending to the commercial banks as a last resort
C. Controlling inflation in the economy
D. Underwriting and issuing of shares

Question 1329:

• WAEC 2013

A budget is balance when expected total revenue is

A. Greater than expected expected expenditure
B. Less than total expenditure
C. Equal to expected expenditure
D. Greater than total expenditure

Question 1330:

• WAEC 2013

A co-operative society is a

A. Finance house
B. Self -help business organization
C. Public corporation
D. Non-democratic business organization