WAEC Economics Past Questions & Answers - Page 227

1,131.

The population which yields the highest level of income per head is known as

A.

Over-population

B.

Under-population

C.

Extreme population

D.

Optimum population

Correct answer is D

No explanation has been provided for this answer.

1,132.

Proportional tax refers to

A.

Taxation of the rich only

B.

Equal tax rate for all people

C.

Unequal tax rate for all people

D.

Taxation of civil servants only

Correct answer is B

No explanation has been provided for this answer.

1,133.

Occupational distribution of population is mainly influenced by

A.

Economic factors

B.

Religious factors

C.

Geographical factors

D.

Social factors

Correct answer is A

No explanation has been provided for this answer.

1,134.

Government revenue will increase if tax is imposed on a good whose demand is

A.

Elastic

B.

Inelastic

C.

Unitary elastic

D.

Perfectly elastic

Correct answer is B

No explanation has been provided for this answer.

1,135.

The creation of utility can be referred to as

A.

Value added

B.

Profit maximization

C.

Entrepreneurship

D.

Production

Correct answer is D

No explanation has been provided for this answer.