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Economics 2007 NECO Past Questions

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16
If total Income is N15m and total consumption Is N3m. then the average propensity to consume is
  • A. 0.2
  • B. 0.6
  • C. 0.7
  • D. 5
  • E. 10
View Answer & Discuss (1) NECO 2007
17
Which of the following is a disadvantage of sole proprietorship?
  • A. Does not enjoy limited liability
  • B. Decisions are easily made and implemented
  • C. Easy to set up
  • D. Enjoys secrecy
  • E. Maintains dose relationship with workers and customers
View Answer & Discuss NECO 2007
18
which of the following measures can be used to control inflation?
  • A. decrease in bank rate
  • B. Decrease in taxation
  • C. deficit budget
  • D. Export drive
  • E. Increase in government expenditure
View Answer & Discuss NECO 2007
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19
The following methods are used in calculation of National Income EXCEPT
  • A. depreciation
  • B. Expenditure
  • C. Income
  • D. Output
  • E. value added
View Answer & Discuss NECO 2007
20
A deliberate government policy to exclude foreign participation in certain economic activity is known as
  • A. commercialization
  • B. indigenization
  • C. liberalization
  • D. localization
  • E. privatization
View Answer & Discuss NECO 2007
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