by Sunday | Jan 7 | Economics WAEC
A. when the demand and supply of money are equal B. when demand is greater than supply of money C. when demand is less than supply of money D. when supply is greater than demand for money Correct Answer: Option A A. when the demand and supply of money are equal...
by Sunday | Jan 7 | Economics WAEC
A. Deductive reasoning B. Inductive reasoning C. Normative reasoning D. Positive reasoning Correct Answer: Option B B. Inductive reasoning Explanation Inductive reasoning method draws conclusion. From the basic facts of an event because it makes use of mathematical...
by Sunday | Jan 7 | Economics WAEC
A. 145 B. 15 C. 90 D. 6 Correct Answer: Option B Explanation Arithmetic Mean = ∑X N where N = Number of observation and X is observations Therefore; 5 + 8 + 10 + 15 + 24 + 28 6 = 90 6 =...
by Sunday | Jan 7 | Economics WAEC
A. Frugal economy B. Spend-thrift economy C. Capitalist economy D. Mixed economy Correct Answer: Option A A. Frugal economy Explanation A frugal economy is an economy in which the income is shared between consumption and saving or consumption and investment i.e γ = c...
by Sunday | Jan 7 | Economics WAEC
A. income approach B. expenditure approach C. value added method D. output approach Correct Answer: Option A A. income approach Explanation The reward of factors of production are: Rent, Interest, wages & salaries and profit. In national income adding the reward...