Waec Economics Past Questions and Answers

Question 456:

• WAEC 1998

An increase in marginal propensity to save will lead to

A. An increase in marginal propensity to consume
B. A decrease in the level of consumption
C. An immediate decrease in the net national income
D. An increase in the level of consumption
E. A decrease in the level of savings

Question 457:

• WAEC 1998

progressive system of taxation implies that the

A. Poor pay relatively more
B. Tax rate falls as the tax base increases
C. Tax rate increases as the tax base increases
D. Average and marginal rate of tax will be the same
E. Rich and the poor pay the same amount as tax

Question 458:

• WAEC 1998

development plans in Nigeria have deviated from their targets due to

A. Lack of manpower
B. Political instability
C. High population growth rate
D. Brain drain in the country
E. Inadequate land

Question 459:

• WAEC 1998

The level of economic development is low in Nigeria because

A. Planning has nopractical relevance
B. Of the pattern of the consumers' spending
C. The country is too large
D. Of ineffective plan implementation
E. There is no unique planning model

Question 460:

• WAEC 1998

The stability of Nigerian economy depends mainly on the export price of

A. Groundnut
B. Cotton
C. Cocoa
D. Mineral oil
E. Palm kernel