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3066
Using functional relationship in economics QX = f (px, po, y, T); po stand for
  • A. level of income of the consumer
  • B. price of x
  • C. price of other commodities
  • D. production function of x
  • E. price index
View Answer & Discuss NECO 2003
3067
Which of the following is NOT an internal dis-economy of scales?
  • A. Easy management and less administrative cost
  • B. large firm suffers from bureaucracy or red tapism
  • C. less personal relationship between management and employees
  • D. Motivation may be lacking in the large firm
  • E. slow response to changes
View Answer & Discuss NECO 2003
3068

Abdul is faced with a choice between buying a new NOTE book and a pen with N10. Since the N10 can NOT give him both items he decide to buy NOTE book. The money cost to him is

  • A. N10
  • B. N20
  • C. N30
  • D. N40
  • E. N50
View Answer & Discuss (5) NECO 2003
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3069
The theory of income determination is traced to
  • A. Rev Thomas Mathus
  • B. Lord John Mynard Keynes
  • C. Prof Adam Smith
  • D. R G Lipsey
  • E. Prof Umar SI
View Answer & Discuss (3) NECO 2003
3070
The per capita income is calculated as
  • A. GNP- working age population
  • B. GNP- real national income
  • C. GNP- total capital expenditure
  • D. GNP- dependency ratio
  • E. GNP- population
View Answer & Discuss (2) NECO 2003
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