Year :
2006
Title :
Economics
Exam :
WASSCE/WAEC MAY/JUNE
Paper 1 | Objectives
41 - 49 of 49 Questions
| # | Question | Ans |
|---|---|---|
| 41. |
Which of the following is a form of tax evasion? A. wrong declaration of earnings B. payment of flat rate tax C. constant change of employment D. low capacity utilization |
A |
| 42. |
Where the burden of a tax finally rests is called A. tax object B. tax rate C. incidence of taxation D. system of taxation |
C |
| 43. |
An increase in the quantity of goods and services produced in a country which raises her national income is known as A. economic development B. economic growth C. domestic investment D. productivity |
B |
| 44. |
The formula index of export prices/index of import prices * 100 A. volume of trade between countries B. direction of internatrional trade C. commodity terms of trade D. volume of imports |
C |
| 45. |
Which of the following is an invisible term? A. Banking services B. Petroleum products C. Processed rice D. processed milk |
A |
| 46. |
In an attempt to correct a deficit balance of payment, a country may decide to increase A. domestic production B. imports C. domestic expenditure D. tax on infant industry |
A |
| 47. |
Which of the following is an objective of economic integration? A. harmonization of cultural practises B. free movement of persons, goods and services C. payment of high tarrifs D. dumpoing of goods in less developed countries |
B |
| 48. |
One of the functions of of the international Monetary Fund (IMF) is to A. devalue the currency of member state B. reduce drastically the size of deficit financing of member states C. giving financial assistance to member states that have temporary balance of payment difficulties D. discourage the rapid industrialization process in the less developed nation of the world |
C |
| 49. |
The full meaning of OPEC is A. Oil ans Petroleum Exporting Countries B. Original Petroleum Exporting Companies C. Organization of Petrol Exporting Countries D. Organization of Petroleum Exporting Countries |
D |
| 41. |
Which of the following is a form of tax evasion? A. wrong declaration of earnings B. payment of flat rate tax C. constant change of employment D. low capacity utilization |
A |
| 42. |
Where the burden of a tax finally rests is called A. tax object B. tax rate C. incidence of taxation D. system of taxation |
C |
| 43. |
An increase in the quantity of goods and services produced in a country which raises her national income is known as A. economic development B. economic growth C. domestic investment D. productivity |
B |
| 44. |
The formula index of export prices/index of import prices * 100 A. volume of trade between countries B. direction of internatrional trade C. commodity terms of trade D. volume of imports |
C |
| 45. |
Which of the following is an invisible term? A. Banking services B. Petroleum products C. Processed rice D. processed milk |
A |
| 46. |
In an attempt to correct a deficit balance of payment, a country may decide to increase A. domestic production B. imports C. domestic expenditure D. tax on infant industry |
A |
| 47. |
Which of the following is an objective of economic integration? A. harmonization of cultural practises B. free movement of persons, goods and services C. payment of high tarrifs D. dumpoing of goods in less developed countries |
B |
| 48. |
One of the functions of of the international Monetary Fund (IMF) is to A. devalue the currency of member state B. reduce drastically the size of deficit financing of member states C. giving financial assistance to member states that have temporary balance of payment difficulties D. discourage the rapid industrialization process in the less developed nation of the world |
C |
| 49. |
The full meaning of OPEC is A. Oil ans Petroleum Exporting Countries B. Original Petroleum Exporting Companies C. Organization of Petrol Exporting Countries D. Organization of Petroleum Exporting Countries |
D |