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Economics Past Questions and Answers

Neco Economics Questions

Question 21:

In a two-sector economy, income is a function of ____________

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A Consumption + investment
B Consumption + investment + tax
C Consumption + investment + expenditure
D Consumption + exports + imports
E Saving + investment

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Question 22:

Which of these is a necessary condition for trade by barter?

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A Double coincidence of wants
B Double exchange rate
C Durability of goods
D Divisibility of commodities
E Homogeneity of goods

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Question 23:

The following are reward for factors of production EXCEPT

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A Interests
B Profit
C Rent and commissions
D Rates and deposits
E Wage and salaries

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Question 24:

Disposable income in national income accounting is an income which

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A Cannot be used again
B Is available for consumption and saving
C Is a available to disabled people
D Must be wasted once and for all
E Pensioners receive from the treasury board

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Question 25:

One of the function of united nation conference on trade and development (UNTAD) is to

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A Carry out feasibility study for projects in less developed countries
B Increase impact of developed countries over less developed countries
C Increase share of less developed countries in world trade
D Make goods available in developed countries
E Transfer technology from developed to less developed countries

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