WAEC Past Questions and Answers - Page 3345

16,721.

Which of the following causes the demand curve to shift to the right?a reduction in size of population

A.

A reduction in size of population

B.

An increase in the income of the buyer

C.

The availability of substitutes

D.

A decrease in price of goods

Correct answer is B

No explanation has been provided for this answer.

16,722.

Excise duty is levied on

A.

The total population

B.

Local products

C.

Luxury goods

D.

The working population

Correct answer is B

Excise duty refers to the taxes levied on the manufacture of goods within the country, levied by the government.

16,723.

One disadvantages of direct taxes is that they

A.

Allocate scarce resources

B.

Are not rigid

C.

Can be progressive

D.

Can be evaded

Correct answer is D

Direct taxes are are taxes such as income tax, which is levied on the income or profits of the person who pays it, rather than on goods or services. One disadvantage of this type of tax is that payers can evade payment.

Tax evasion is an illegal activity in which a person or a corporation deliberately avoids paying a true tax or under-pays taxes. Some income earners or companies may deliberately refuse to pay taxes, or reduce their taxable income/inflow to smaller amounts in other to pay lesser taxes. This has been a serious problem of direct taxes

16,724.

Find the median of the following set of scores 8,9,6,5,10

A.

9

B.

8

C.

6

D.

5

Correct answer is B

In order to calculate the median, the data must first be ranked (sorted in ascending order). The median is the number in the middle. We rearrange this 8,9,6,5,10

 

5,6,8,9,10.

 

8 is the middle number

16,725.

The sum of items divided by the number of items is the

A.

Frequency

B.

Mean

C.

Median

D.

Mode

Correct answer is B

No explanation has been provided for this answer.