Waec Economics Past Questions and Answers

Question 1521:

• WAEC 2016

The difference between GDP and GNP

A. Consumption of fixed capital
B. Indirect business tax
C. Net factor income from abroad
D. Public transfer payment

Question 1522:

• WAEC 2016

Which of the following items is not included in the measurement of the national income using the income approach

A. Wages and salary
B. Government purchases
C. Interest
D. Divedend

Question 1523:

• WAEC 2016

A bank note is said to be a legal tender because it is

A. Printed by government
B. A store of value
C. Signed by the head of state
D. Backed by law

Question 1524:

• WAEC 2016

During Inflation, interest rate will

A. Rise
B. Flunctuate
C. Remain constant
D. Fall

Question 1525:

• WAEC 2016

Cost push inflation is likely to arise when

A. There is an increase in banking lending
B. There is an increase in subsidies
C. Stock exchange
D. Rise in the cost of production.