NECO Economics Past Questions & Answers - Page 13

61.

Standard deviation can be determined by the square root of the

A.

Mean

B.

Mean deviation

C.

Mode

D.

Variance

E.

Variance divided by the mean

Correct answer is D

No explanation has been provided for this answer.

62.

The following are types of monopolies EXCEPT 

A.

Cartels

B.

Holding companies

C.

Syndicates

D.

Thrifts

E.

Trusts

Correct answer is D

No explanation has been provided for this answer.

63.

The following are bye-products of crude oil EXCEPT

A.

Bitumen

B.

Kerosene

C.

Paraffin wax

D.

Perfume

E.

Petrol

Correct answer is D

No explanation has been provided for this answer.

64.

The following are the objectives of economic planning EXCEPT

A.

Achieving balanced growth

B.

Diversification of the economy

C.

Creation of more employment opportunities

D.

Equitable allocation of resources

E.

Rapid population growth

Correct answer is E

No explanation has been provided for this answer.

65.

The theory of absolute advantage was propounded by

A.

Adam Smith

B.

David Ricardo

C.

Irving Fisher

D.

JB Kynes

E.

Thomas Malthus

Correct answer is A

No explanation has been provided for this answer.