NECO Economics Past Questions & Answers - Page 24

116.

The following are problems of development planning in Nigeria EXCEPT

A.

Death of skilled manpower

B.

Inadequate capital

C.

Inadequate statistical data

D.

Poor implementation of economic planning

E.

Under-population

Correct answer is E

No explanation has been provided for this answer.

117.

Which of the following is NOT associated with minimum price legislation?

A.

Black market

B.

Excess demand

C.

Excess supply

D.

Unattainable equilibrium

E.

Unemployment

Correct answer is B

No explanation has been provided for this answer.

118.

If the population of a school is 600 and 60% are In JSS, how many students are in SSS?

A.

204

B.

224

C.

240

D.

244

E.

248

Correct answer is C

No explanation has been provided for this answer.

119.

The use of tax and expenditure policy to regulate the economy is known as

A.

Deregulation

B.

Fiscal policy

C.

Monetary policy

D.

Physical measures

E.

Structural adjustment

Correct answer is B

No explanation has been provided for this answer.

120.

Under perfect competition, a profit maximizing firm will hire labour up to the point where the last unit of labor adds

A.

As much to TR as to TC

B.

Less to TR as to TC

C.

Less to TC than to TR

D.

More to TC than to TR

E.

More to TR than to T

Correct answer is E

No explanation has been provided for this answer.