Waec Economics Past Questions and Answers

Question 1751:

• WAEC 2019

An increase in the prices of factor inputs may result in _____________

A. Demand-pull inflation
B. Stagflation
C. Open inflation
D. Cost-push inflation

Question 1752:

• WAEC 2019

Citizens are protected from the government's arbitrariness in taxation by the canon of _____________

A. Elasticity
B. Flexibility.
C. Economy
D. Certainty

Question 1753:

• WAEC 2019

What happens when the central bank increases the bank rate?

A. Amount of borrowing increases
B. Amount of borrowing decreases
C. Supply of money increases
D. Commercial banks are not affected

Question 1754:

• WAEC 2019

Insurance Companies are similar to commercial banks in that they _____________

A. Compensate their customers for losses
B. Act as lender of last resort
C. Help in maintaining monetary stability in a nation
D. Help in mobilizing savings for investment

Question 1755:

• WAEC 2019

In most developing countries, a large percentage of the labour force is engaged in

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