Waec Economics Past Questions and Answers

Question 131:

• WAEC 1990

Disguised unemployment

A. Is a statistical artifacts with no economic meaning
B. Can be eliminated if the capital output ratio is increased
C. Can be eliminated if the press is free
D. Calls for the implementation of five=year plans
E. Exist when manpower is not being utilized efficiently

Question 132:

• WAEC 1990

The Nigerian economy can be best describe as a

A. Socialist economy
B. Capitalist economy
C. Mixed economy
D. Controlled economy
E. Domestic economy

Question 133:

• WAEC 1990

The amount of money to be created by commercial banks is actually influenced by the

A. Legal reserved ratio
B. External reserve
C. External borrowing
D. Availability of money and capital market
E. Bank deposits

Question 134:

• WAEC 1990

Another name for the International Banks for Reconstruction and Development (IBRD) is

A. International Monetary Funds
B. International Development Bank
C. World Bank
D. International Bnak of Africa
E. International Bank for West Africa

Question 135:

• WAEC 1990

the headquarter of the Organization of Petroleum Exporting Countries (OPEC) is in

A. Geneva, Switzerland
B. Vienna, Austria
C. Paris, France
D. London , Britain
E. New York, USA