Year :
1990
Title :
Economics
Exam :
WASSCE/WAEC MAY/JUNE
Paper 1 | Objectives
11 - 20 of 38 Questions
| # | Question | Ans |
|---|---|---|
| 11. |
Time deposit has the same meaning as A. current account B. demand deposit C. deposit account D. bank deposit E. bank rate |
C |
| 12. |
Which of the following best explain an inflationary situation at current price level? A. Demand, supply B. Demand supply C. Demand = Supply D. Demand/Supply E. Demand = zero |
A |
| 13. |
The theory of consumer behavior is based on all the following assumption except that the A. Consumer is assumed irrational B. Consumer taste remains constant C. Consumer has budget constraint D. Consumer aims at maximizing his utility E. Consumer is exposed to more than one commodity |
A |
| 14. |
The Joint Stock Company can be a company whose minimum membership is A. 2 B. 5 C. 7 D. 10 E. 20 |
A |
| 15. |
Limited liability in Economics means that A. a shareholder's liability in the event of debt or bankruptcy is limited to the amount he has invested B. a shareholder's liability for the debt company is dependent on how much he is owing C. shareholders can not be asked to pay for the debts of the company D. shareholders try to ensure that only a small proportion of the debt comes to them E. shareholders want all the debts paid equally |
A |
| 16. |
Regressive tax is not a good tax system because it A. Is not convenient to pay B. Is not certain what to pay C. Is not economical to collect D. Does not ensure equity in payment E. Is not neutral to price trends |
D |
| 17. |
The price and quantity of crude oil and petrol sold to other countries by Nigeria is fixed by the A. ECOWAS B. IMF C. OPEC D. NNPC E. ECA |
C |
| 18. |
Which of the following is not a member of OPEC? A. Indonesia B. Iran C. Venezuela D. United Arab Emirates E. Egypt |
E |
| 19. |
Which of the following statements is not true of capital income? A. it helps in the assessment of standard of living B. it is calculated as National Income Population C. It is calculated as Population National Income D. It is used by the UNO to assess and assist developing countries E. It is used as one of the indicators of economic growth |
B |
| 20. |
The notion of short-run and long-run periods is responding for grouping cost into A. fixed and variable B. implicit and explicit C. average and total D. capital and running E. money and opportunity |
A |
| 11. |
Time deposit has the same meaning as A. current account B. demand deposit C. deposit account D. bank deposit E. bank rate |
C |
| 12. |
Which of the following best explain an inflationary situation at current price level? A. Demand, supply B. Demand supply C. Demand = Supply D. Demand/Supply E. Demand = zero |
A |
| 13. |
The theory of consumer behavior is based on all the following assumption except that the A. Consumer is assumed irrational B. Consumer taste remains constant C. Consumer has budget constraint D. Consumer aims at maximizing his utility E. Consumer is exposed to more than one commodity |
A |
| 14. |
The Joint Stock Company can be a company whose minimum membership is A. 2 B. 5 C. 7 D. 10 E. 20 |
A |
| 15. |
Limited liability in Economics means that A. a shareholder's liability in the event of debt or bankruptcy is limited to the amount he has invested B. a shareholder's liability for the debt company is dependent on how much he is owing C. shareholders can not be asked to pay for the debts of the company D. shareholders try to ensure that only a small proportion of the debt comes to them E. shareholders want all the debts paid equally |
A |
| 16. |
Regressive tax is not a good tax system because it A. Is not convenient to pay B. Is not certain what to pay C. Is not economical to collect D. Does not ensure equity in payment E. Is not neutral to price trends |
D |
| 17. |
The price and quantity of crude oil and petrol sold to other countries by Nigeria is fixed by the A. ECOWAS B. IMF C. OPEC D. NNPC E. ECA |
C |
| 18. |
Which of the following is not a member of OPEC? A. Indonesia B. Iran C. Venezuela D. United Arab Emirates E. Egypt |
E |
| 19. |
Which of the following statements is not true of capital income? A. it helps in the assessment of standard of living B. it is calculated as National Income Population C. It is calculated as Population National Income D. It is used by the UNO to assess and assist developing countries E. It is used as one of the indicators of economic growth |
B |
| 20. |
The notion of short-run and long-run periods is responding for grouping cost into A. fixed and variable B. implicit and explicit C. average and total D. capital and running E. money and opportunity |
A |