Waec Economics Past Questions and Answers

Question 1346:

• WAEC 2013

A government that wants to get more revenue will increase the tax on commodities with a

A. High price elasticity of demand
B. Low price elasticity of demand
C. High income elasticity of demand
D. Low income elasticity of demand

Question 1347:

• WAEC 2013

Which of the following is involved in the money market?

A. Building society
B. Development banks
C. Commercial banks
D. Stock exchange

Question 1348:

• WAEC 2013

Demand pull inflation can aptly be described as

A. Inflation induced by rising costs of production
B. Reduction in government expenditure
C. Persistent rise in prices due to increase in expenditure
D. Massive importation of goods from a country with hyper inflation

Question 1349:

• WAEC 2013

In order to develop the banking habit of rural dwellers, the traditional money lenders should be

A. Proscribed
B. Legalized
C. Subsidized
D. Heavily taxed

Question 1350:

• WAEC 2013

All rates of interest in a country are influenced by the

A. Bank rate
B. Population growth rate
C. Wage rate
D. Mortgage rate