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Economics Past Questions and Answers

Neco Economics Questions

Question 181:

The following methods are used in calculation of National Income EXCEPT

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A Depreciation
B Expenditure
C Income
D Output
E Value added

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Question 182:

A deliberate government policy to exclude foreign participation in certain economic activity is known as ____________

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A Commercialization
B Indigenization
C Liberalization
D Localization
E Privatization

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Question 183:

The following measures used to check deflation EXCEPT

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A Deficit financing
B Improving distribution system
C Increasing wages and salaries
D Raising the bank rate
E Reducing taxation

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Question 184:

The creation of physical and concrete goods that can be seen and handled is ____________

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A Diminishing returns
B Division of labour
C Industrialization
D Production
E Specialization

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Question 185:

Which of the following is NOT a contribution of agriculture to industrial development?

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A Provision of food for the industrial sector
B Provision of funds for industrial development
C Provision of raw materials
D Supply of labour to the industrial sector
E Supply of machinery to the industrial sector

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