Waec Economics Past Questions and Answers

Question 1641:

• WAEC 2018

the poorer the country, the larger the percentage of labour force engaged in?

A. Agricultural
B. Mining
C. Trading
D. Manufacturing

Question 1642:

• WAEC 2018

which of the following measure can be adopted to stabilize the external value of the local currency?

A. Reduce the volume of export
B. Increase the demand for imports
C. Increase domestic money supply
D. Reduce the demand for imports

Question 1643:

• WAEC 2018

which of the following is not a measure for reducing balance of payments deficits?

A. Export drive
B. Reducing tarriffs
C. Adding to export goods
D. Increasing local production

Question 1644:

• WAEC 2018

Nations engage in international trade because of difference in?

A. Absolute cost
B. Comparative cost
C. Fixed cost
D. Variable cost

Question 1645:

• WAEC 2018

one advantage of international trade is that

A. Prices of goods become stable
B. Countries become self-sufficient
C. Goods consumed are produced at a very high cost
D. It makes possible the consumption of variety of goods