WAEC Past Questions and Answers - Page 3349

16,741.

Terms of trade may be define as the

A.

Trade between one country and another

B.

Relationship between country's receipt from others and payment to others

C.

Rate at which a country's export exchange for imports

D.

Different between the value of export and imports

Correct answer is C

No explanation has been provided for this answer.

16,742.

Economic development is reflected in the

A.

Scarcity of capital

B.

Increase in the price level

C.

Decline in the agricultural production

D.

Increase in productive capacity

Correct answer is D

No explanation has been provided for this answer.

16,743.

The need for development planning arises largely from the fact that

A.

Aggregate savings exceeds aggregate consumption

B.

Aggregate consumption equals aggregate savings

C.

Productive resource are in excess of the demand for them

D.

Productive resource are scarce relative to the demand for them

Correct answer is D

No explanation has been provided for this answer.

16,744.

Fiscal policy is associated with

A.

Taxation and government expenditure

B.

Restructuring of the banks

C.

Injection of more money into the economy

D.

Reduction in economic activities

Correct answer is A

No explanation has been provided for this answer.

16,745.

Government expenditure on the construction of roads and bridges is

A.

Recurrent expenditure

B.

Capital expenditure

C.

Supplementary expenditure

D.

Variable expenditure

Correct answer is B

No explanation has been provided for this answer.