by Sunday | Apr 20 | Economics WAEC
A. demand-pull inflation B. stagflation C. open inflation D. cost-push inflation Correct Answer: Option D = cost-push inflation Explanation Cost-push inflation occurs when overall prices increase (inflation) as a result of increases in the cost of wages and raw...
by Sunday | Apr 20 | Economics WAEC
A. precautionary demand B. transactions demand C. liquidity demand D. speculative demand Correct Answer: Option A = precautionary demand Explanation The precautionary demand for money is the act of holding money to cater to unforeseen...
by Sunday | Apr 20 | Economics WAEC
A. is positively related to the price level B. depends on the value people attach to it C. is determined by the government D. is inversely related to the price level Correct Answer: Option D = is inversely related to the price level Explanation Value of money is what...
by Sunday | Apr 20 | Economics WAEC
A. Pension pay B. Government subsidy C. Students’ grant D. Doctor’s salary Correct Answer: Option D = Doctor’s salary Explanation Transfer payment is any payment made by a government in which no goods or services are being paid for. They include...
by Sunday | Apr 20 | Economics WAEC
A. Rapid decrease in prices B. Increased subsistence production C. Practice of specialization of labour D. Increase in value of services not paid for Correct Answer: Option D – Increase in value of services not paid for
by Sunday | Apr 20 | Economics WAEC
A. net national product B. net domestic product C. gross domestic product D. gross national product Correct Answer: Option C = gross domestic product Explanation Gross domestic product (GDP) is the total market value of the goods and services produced by a...
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