Waec Economics Past Questions and Answers

Question 406:

• WAEC 1997

The outward shift to the production possibility curve could be due to

A. Military conquest
B. Increased money supply
C. Inflation
D. Economic growth
E. Massive importation

Question 407:

• WAEC 1997

which of the following is not true of a firm in equilibrium condition in perfect competition?

A. MC is rising
B. MC curves cuts AC curves from below
C. MR>AR
D. MC = AC
E. MR = AR

Question 408:

• WAEC 1997

Hoarding in distributive trade leads to

A. Non-availabilty of commodities
B. Production of inferior goods
C. Increase in the supply of goods
D. Decrease in the supply of goods
E. Artificial scarcity of goods

Question 409:

• WAEC 1997

Hoarding in distributive trade leads to

A. Non-availabilty of commodities
B. Production of inferior goods
C. Increase in the supply of goods
D. Decrease in the supply of goods
E. Artificial scarcity of goods

Question 410:

• WAEC 1997

If an economy grows at an annual rate of 6% of which 4% is deemed to be due to improvement in the productivity of labour and capital combined ,the remaining 2% is generally attributed to the

A. Amount of natural resources
B. Improvement in banking services
C. Size of the population
D. Quality of human resources
E. Improvement in government fiscal policies