by Sunday | Mar 28 | Economics WAEC
A. below what is sold at the home market B. above what is sold at the home market. C. equal to what is sold at the home market D. equal to the cost of producing the goods Correct Answer: Option A = below what is sold at the home market Explanation In international...
by Sunday | Mar 28 | Economics WAEC
A. devaluation B. tariff C. embargo D. quota Correct Answer: Option D = quota Explanation A quota is a government-imposed restriction that limits the quantity or the monetary value of goods that a country can import or export during a particular...
by Sunday | Mar 28 | Economics WAEC
A. it becomes popular among the comity of nations B. it also does what others are doing C. its scarce productive resources are efficiently utilized D. the nation is able to contribute its own quota to international organizations. Correct Answer: Option C = its scarce...
by Sunday | Mar 28 | Economics WAEC
A. industrialized countries B. advanced countries C. developing countries D. capitalist countries Correct Answer: Option C = developing countries Explanation Option C is correct because developing countries depend mainly on imported finished goods, and taxes are being...
by Sunday | Mar 28 | Economics WAEC
A. specific tax B. proportional tax C. regressive tax D. progressive tax Correct Answer: Option D = progressive tax Explanation A progressive tax is a type of tax in which the tax rate increases as the taxable amount increases. This type of taxes imposes a greater...
by Sunday | Mar 28 | Economics WAEC
A. increase indirect taxes B. increase direct taxes C. reduce personal income tax D. increase government expenditure Correct Answer: Option B = increase direct taxes Explanation In fiscal policy, the government controls inflation either by reducing private spending or...
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