WAEC Economics Past Questions & Answers - Page 236

1,176.

The West African house was established to

A.

Finance development projects in Africa

B.

Enhance financial transaction among memebers countries

C.

Provide technical assistance to memebers countries

D.

Stabilize price in developing countries

E.

Service the debts of the African Countries

Correct answer is B

No explanation has been provided for this answer.

1,177.

Banks create money by

A.

Giving drafts to customers

B.

Printing more money

C.

Lending our deposits to borrowers

D.

Issuing cheques

E.

Depositing excess cash in the trills

Correct answer is C

No explanation has been provided for this answer.

1,178.

If a government which owned a company N10,000 in 1919 paid the debt fully in 1985 when the value of money has depreciated by 20 Percent, such a government had

A.

Lost

B.

Been placed at par with the company

C.

Gained

D.

Stabilizing the value of money

E.

Increased the value of money

Correct answer is C

No explanation has been provided for this answer.

1,179.

Which of the following is used to measure inflation?

A.

Open market operation

B.

Cash-deposit ratio

C.

Price index

D.

Multiplier

E.

Fiscal policy

Correct answer is C

No explanation has been provided for this answer.

1,180.

An imperfect competitor is in equilibrium when

A.

Marginal cost (MC) is equal to Marginal Revenue (MR)

B.

Marginal Revenue (MR) equal to Price (P)

C.

Average Revenue(AR) is equal to Average Cost (AC)

D.

Output (Q) is equal to Average Revenue (AR)

E.

Average Revenue (AR) is equal to Marginal Revenue (MR)

Correct answer is A

No explanation has been provided for this answer.