Economics 2017 Past Questions | WAEC

Study the following Economics past questions and answers for JAMBWAEC  NECO and Post-JAMB. Get prepared with official past questions and answers for upcoming examinations.

31. In an industrial area, the location of industries is particularly influenced by ?

  • A. extent of the division of labour
  • B. external economies
  • C. internal economies
  • D. nearness to financial institution

32. Which of the following is a transfer income

  • A. dividends
  • B. rent
  • C. pensions
  • D. interest

33. The value added method used in measuring national income is to 

  • A. measure output at factor cost
  • B. avoid multiple counting of output
  • C. deduct depreciation of capital assets
  • D. add net factor income from abroad

34. Which of the following is most likely to be of benefit to a debtor

  • A. inflation
  • B. deflation
  • C. revaluation
  • D. monetization

35. A measure of the value of money in an economy is the

  • A. size of workers
  • B. general price
  • C. total level of savings
  • D. total amount of loans granted by the banks

36. One characteristic of money is that it should  be?

  • A. a standard of differed payment
  • B. stable in value
  • C. store of value
  • D. acceptance by the central bank

37. The function that distinguishes commercial banks from the central bank is that the former 

  • A. is a lender of last resort
  • B. accepts deposits from the public
  • C. services the public debt
  • D. regulates foreign exchange

38. Direct taxes include?

  • A. excise duty
  • B. ad valorem tax
  • C. specific tax
  • D. capital gain tax

39. The control of aggregate demand through changes in government spending and tax rates is referred to as?

  • A. monetary policy
  • B. government policy
  • C. income policy
  • D. fiscal policy

40. Which of the following is not a feature of economic underdevelopment 

  • A. monocultural economy
  • B. high productivity
  • C. low life expectancy
  • D. income inequality
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