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Economics 2005 NECO Past Questions

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16
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
View Answer & Discuss NECO 2005
17
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
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18
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
View Answer & Discuss (3) NECO 2005
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19
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
View Answer & Discuss (1) NECO 2005
20
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
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