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One of the major consequences of urban-biased development programmes in Nigeria is that they?

A. led o rapid rural-urban migration B. led to an unprecedented urban wealth C. transformed rural areas into urban centres D. increased the level of specialized manpower in the cities Correct Answer: Option A – led o rapid rural-urban...

If a country’s national income increased from N1000 billion over a period of 2 years, what was the average annual rate of growth of national income over the period?

by Sunday | Aug 1 | Economics WAEC

A. 5% B. 15% C. 20% D. 100% Correct Answer: Option A – 5%

If a government wants to reduce the level of inflation, it will?

by Sunday | Aug 1 | Economics WAEC

A. run a budget surplus B. run a budget deficit C. run a balanced budget D. borrow more money Correct Answer: Option B – run a budget deficit Explanation In a period of rapid economic growth, demand in the economy could be growing faster than its capacity can...

When an indirect tax is levied on the producer of a good, the burden on the consumer will depend largely on the?

by Sunday | Aug 1 | Economics WAEC

A. elasticity of demand for the good B. proportion of the consumer’s income spent on the good C. elasticities of demand and supply of the commodity D. availability of substitutes for the commodity Correct Answer: Option A – elasticity of demand for the...

An increase in government expenditure will lead to?

by Sunday | Aug 1 | Economics WAEC

A. investment opportunities for foreign investors B. an increase in the level of aggregate demand C. an increase in total tax revenue D. reduction in total tax revenue Correct Answer: Option B – an increase in the level of aggregate...

One of the major consequences of urban-biased development programmes in Nigeria is that they?

If a country’s national income increased from N1000 billion over a period of 2 years, what was the average annual rate of growth of national income over the period?

If a government wants to reduce the level of inflation, it will?

When an indirect tax is levied on the producer of a good, the burden on the consumer will depend largely on the?

An increase in government expenditure will lead to?

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