NECO Economics Past Questions & Answers - Page 47

231.

One of the function of united nation conference on trade and development (UNTAD) is to

A.

Carry out feasibility study for projects in less developed countries

B.

Increase impact of developed countries over less developed countries

C.

Increase share of less developed countries in world trade

D.

Make goods available in developed countries

E.

Transfer technology from developed to less developed countries

Correct answer is C

No explanation has been provided for this answer.

232.

Government expenditure on universal basic education and subsidy on agriculture are aimed at

A.

Encouraging growth of the economy

B.

Projecting images of government

C.

Re-allocation of resources

D.

Redistribution of income and wealth

E.

Stabilization of the economy

Correct answer is C

No explanation has been provided for this answer.

233.

Disposable income in national income accounting is an income which

A.

Cannot be used again

B.

Is available for consumption and saving

C.

Is a available to disabled people

D.

Must be wasted once and for all

E.

Pensioners receive from the treasury board

Correct answer is B

No explanation has been provided for this answer.

234.

A producer who can only influence the price of his product but canNOT determine the quantity to be sold is referred to as

A.

Duopoly

B.

Monopolist

C.

Monopsonist

D.

Oligopoly

E.

Perfect competitor

Correct answer is B

No explanation has been provided for this answer.

235.

The following are reward for factors of production EXCEPT

A.

Interests

B.

Profit

C.

Rent and commissions

D.

Rates and deposits

E.

Wage and salaries

Correct answer is D

No explanation has been provided for this answer.