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Economics Past Questions and Answers

Neco Economics Questions

Question 226:

Which of the following is NOT an advantage of tabular presentation of data?

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A Enables easy location of required figures
B Helps to calculate derived quantities
C Makes for easy comparison of figures
D Occupies more space than mathematical equation
E Shows whether the figures are increasing or decreasing

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Question 227:

Which of the following is NOT an advantage of tabular presentation of data?

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A Enables easy location of required figures
B Helps to calculate derived quantities
C Makes for easy comparison of figures
D Occupies more space than mathematical equation
E Shows whether the figures are increasing or decreasing

View Answer & Explanation

Question 228:

Average total cost can be expressed as ____________

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A Average fixed cost plus average variable cost
B Change in total cost divided by change in output
C Total fixed cost divided by total output
D Total fixed cost plus total variable cost
E Total variable cost divided by total output

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Question 229:

The mean of the following scores

30, 32, 34, 36, 38, 40 and 42

What is the mean deviation?

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A 4.21
B 3.24
C 3.42
D 4.54

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Question 230:

The value of money is affected by ____________

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A Consumer’s income
B Effective demand
C Effective supply
D Equilibrium price
E General price level

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