by Sunday | Nov 7 | Economics WAEC
A. investment income B. foreign direct investment C. long-term capital flows D. long-term loans Correct Answer: Option A A. investment income Explanation The current account on the balance of payments measures the inflow and outflow of goods, services, investment...
by Sunday | Nov 7 | Economics WAEC
A. absolute cost advantage B. comparative advantage C. terms of trade D. balance of trade Correct Answer: Option B B. comparative advantage Explanation Comparative advantage is an economic term that refers to an economy’s ability to produce goods and services at...
by Sunday | Nov 7 | Economics WAEC
A. newly established industries B. industries enjoying tax holidays C. industries producing baby products D. newly commercialized industries Correct Answer: Option A A. newly established industries Explanation In economics, an infant industry is a new industry, which...
by Sunday | Nov 7 | Economics WAEC
A. above its cost of production at home and abroad B. below its cost of production at home and abroad C. more goods to a country than the country has need of D. below its cost of production in a foreign market Correct Answer: Option D D. below its cost of production...
by Sunday | Nov 7 | Economics WAEC
A. the consumption of consumer goods B. early marriage C. the importation of more consumer goods D. savings and investment Correct Answer: Option D D. savings and investment Explanation Typically a higher savings rate, the fraction of GDP not consumed today, results...
by Sunday | Nov 7 | Economics WAEC
A. monetary policy B. government policy C. income policy D. fiscal policy Correct Answer: Option D D. fiscal policy Explanation In economics and political science, fiscal policy is the use of government revenue collection (mainly taxes) and expenditure (spending) to...