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Economics 2005 NECO Past Questions

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31
The variance of a given set of numbers is defined as the
  • A. absolute value of the standard deviation
  • B. square of the standard deviation
  • C. square root of the standard deviation
  • D. square of the mean deviation
  • E. square root of the mean deviation
View Answer & Discuss (2) NECO 2005
32
The following can be used to improve a country’s balance of payment EXCEPT
  • A. anti-dumping policies
  • B. decreasing taxation on personal income
  • C. granting subsidies to export producers
  • D. increasing import duties
  • E. removing export duties
View Answer & Discuss (2) NECO 2005
33
Which of the following is NOT a function of marketing boards in Nigeria?
  • A. Fixing of prices for farm produce
  • B. Grading of farm produce
  • C. Importation of farm produce
  • D. Marketing of farm produce
  • E. Price stabilization
View Answer & Discuss NECO 2005
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34
The trade-off between two commodities along the Production Possibility Curve (PPC) shows
  • A. opportunity cost principle
  • B. scarcity principle
  • C. transferable output
  • D. unattainable combination
  • E. under utilization of resources
View Answer & Discuss (3) NECO 2005
35
Economic problem arises as a result of
  • A. choice
  • B. money cost
  • C. opportunity cost
  • D. scarcity
  • E. scale of preference
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