Waec Economics Past Questions and Answers

Question 1826:

• WAEC 2020

Tools of monetary policy do not include ____________

A. Open market operations
B. Reserve requirement
C. Bank rate
D. Tax and public expenditure

Question 1827:

• WAEC 2020

During inflation, the appropriate fiscal measure to adopt is to ____________

A. Increase indirect taxes
B. Increase direct taxes
C. Reduce personal income tax
D. Increase government expenditure

Question 1828:

• WAEC 2020

Mr. X and Mrs. Y pay $500.00 and $1,400.00 as taxes on their earning of S5,000.00 and $7,000.00 respectively. The system of taxation employed is ____________

A. Specific tax
B. Proportional tax
C. Regressive tax
D. Progressive tax

Question 1829:

• WAEC 2020

Expenditure on food takes a large proportion of the incomes of people in ____________

A. Industrialized countries
B. Advanced countries
C. Developing countries
D. Capitalist countries

Question 1830:

• WAEC 2020

A country should embark on development planning to ensure that ____________

A. It becomes popular among the comity of nations
B. It also does what others are doing
C. Its scarce productive resources are efficiently utilized
D. The nation is able to contribute its own quota to international organizations.