ECONS 101

REVISION QUESTIONS

Hey Readers, Thank God Its Friday Again!!!!... It's always the Feeling of Friday, The Feeling of Now i can Relax, so before we do, lets revise some questions in the spirit of Holiday. We are continuing the Revision of Questions of WAEC, JAMB, GCE etc. So Let's get Started....

37. The Differences between Birth Rate and Death Rate is known as ?

a.  Demographic Transition

b. Natural Growth Rate

c. Migration Rate

d. Fertility Rate.

38. Mr Okpoti has Meat and wants Maize, while Mr Adama has Maize and wants Meat.  A Transaction is possible because of?

a. Joint Demand

b. Scale of Preference

c. Double Coincidence of Wants

d. Opportunity Cost.

39. In Open Market Operations, what the Central Bank sells or buys are?

a. Shares

b. Debentures

c. Securities

d. Equities.

40. The Following are reasons for the Failure of Agricultural Policies in West Africa except?

a. Vague Policy Statements

b. Negation of Policies

c. Creation of Agro-Service Stations

d. Provision of Obsolete Implements.

41. A Situation in which the estimated Government Revenue is less than the proposed Expenditure for a given year can be described as ?

a. Surplus Budgeting

b. Supplementary Budgeting

c. Balanced Budgeting

d. Deficit Budgeting.

42. An Excise Tax is Imposed on Goods?

a. Smuggled into the Country

b. Manufactured Locally

c. Imported into the Country

d. Seized by Custom Officials.

43. Which of the Following will not retard Economic Development in West Africa?

a. Dependence on Imports

b. Population Control

c. High Level of Illiteracy

d. Low Level of Savings.

44. When there is Improvement in a Country's Terms of Trade, it means that the Country's

a. Exports are Cheaper Relative to Imports

b. Imports are Cheaper Relative to Exports

c. Volume of Imports has Declined

d. Volume of Exports has Declined.

45. Which of the Following is true about Import Substitution?

a. It helps in Increasing Exportation

b. It is meant to Reduce Exportation

c. It Enables a Country to Curtail Importation

d. It Enables a Country to Improve on Importation.

46. Balance of Payments Problem can be corrected through?

a. Increasing Foreign Reserves

b. Increasing Domestic Borrowing

c. Import Promotion Strategies

d. Export Promotion Strategies.

47. One of the Reasons why Government may erect a Trade Barrier is to?

a. Control Foreign Currencies

b. Protect Infant Industries

c. Promote Importation

d. Diversify the Economy.

48. Which of the Following is not a Function of the West African Development Bank?

a. Promotion of Both Private and Public Investments in Member States

b. Financing and Executing Projects in Member States

c. Promotion of Social Development of Member States

d. Harmonization of Oil Prices to the Advantage of Member States.

NOTE:  THE QUESTIONS IN THIS POST WERE CULLED FROM WEST AFRICA EXAM COUNCIL 2012 PAPERS.. THANKS

This brings us to the end of today's session. Hope this was very helpful to you, leave a comment of what you think of this tutorial and Pls try to attempt the Questions on your own. Have a Blessed Day and Remember You are Amazing. God Bless.