Waec Economics Past Questions and Answers

Question 36:

• WAEC 1988

The imposition of high income tax by government to cut down demand is known as

A. Monetary policy
B. Budgetary policy
C. Fiscal policy
D. Internal policy
E. Development policy

Question 37:

• WAEC 1988

Which of these factors does not affect revenue allocation in Nigeria?

A. Needs of an area
B. Size of the population of an area
C. Number of industries and land areas
D. Revenue derivable from an area
E. Development needs of the country

Question 38:

• WAEC 1988

The term marginal propensity to consume can best be explained as the

A. Desire to spend more income on consumption
B. Change in consumption as a percentage of change in income
C. Average regularly spend on consumption
D. Total expenditure on consumption
E. Inclination to spend only a little on consumption

Question 39:

• WAEC 1988

Subsistence farming means producing food

A. Mainly for the need of our immediate and extended family
B. Crops for sale mainly
C. Crops mainly for export
D. To feed the community around
E. In order to satisfy the government directives

Question 40:

• WAEC 1988

What has the government done to encourage industrialization in Nigeria?