Waec Economics Past Questions and Answers

Question 206:

• WAEC 1992

Which of the following is not a negative effect of inflation

A. Lenders earn less
B. Pensioneers and salary earners on fixed income suffer
C. Exports tends to decline
D. Savings are discouraged
E. Borrowers tends to gain

Question 207:

• WAEC 1992

Which of the following is not function of central bank

A. Banker to the Government
B. Banker's bank
C. Acceptance of deposit from the public
D. Responsibility for monetary policy
E. Lenders of last resort

Question 208:

• WAEC 1992

Proportional tax is a tax whose

A. Percentage rate remains constant as the tax base increases
B. Percentage base increases as the tax base increases
C. Percentage rate decreases as the tax rate increases
D. Percentage rate fluctuates as the tax base increases
E. Burden falls heavily on consumer

Question 209:

• WAEC 1992

the largest part of the revenue of a country is derived from

A. Direct taxation
B. Indirect taxation
C. Excise duties
D. Company taxes
E. Non-tax revenue

Question 210:

• WAEC 1992

which of the following is not a good reason for the importation of agriculture in West African countries? it

A. Employs about 60% of the people
B. Provides the highest tax revenue
C. Is a major foreign exchange earner in most of the countries
D. Provides the raw materials for all import-substitution industries
E. Provide raw materials only for foreign industries