Waec Economics Past Questions and Answers

Question 1461:

• WAEC 2015

which of the following is not a strong basis for trade unions demand for higher wages

A. Company is making higher profit
B. Productivity of workers has increased
C. Members of the union have high qualifications
D. Commodity produced by the workers is very essential

Question 1462:

• WAEC 2015

The difference between the gross domestic product (GDP) and gross national product (GNP) IS?

A. Depreciation
B. Transfer payment
C. Net income from abroad
D. Direct taxes

Question 1463:

• WAEC 2015

location of firms of an industry is not influenced by?

A. Availability of raw material
B. Existence of other firms
C. Nearness to the source of money supply
D. Government policy

Question 1464:

• WAEC 2015

In national income accounting, the term net is used to indicate that a value

A. Includes income of foreigners
B. Includes income of citizens
C. Includes depreciation
D. Excludes depreciation

Question 1465:

• WAEC 2015

which of the following best describes token money?

A. Money in the vaults of commercial banks
B. Currency and coins in circulation
C. Money with face value higher than its material content
D. Coins and notes made of poor quality material