NECO Economics Past Questions & Answers - Page 3

11.

The International Monetary Fund (IMF) was set up mainly to

A.

Cater for financial needs of developed countries

B.

Create conditions favourable for the growth of world trade

C.

Create favourable balance of payment

D.

Develop domestic trade

E.

Offset foreign debts only

Correct answer is B

No explanation has been provided for this answer.

12.

Time deposit is the same thing as

A.

Bank rate

B.

Current account

C.

Demand deposited

D.

Fixed deposit

E.

Savings account

Correct answer is D

No explanation has been provided for this answer.

13.

When the demand for foreign exchange exceeds its supply, the value of the domestic currency

A.

Appreciates

B.

Depreciates

C.

Expands

D.

Increases

E.

Inflates

Correct answer is B

No explanation has been provided for this answer.

14.

The additional satisfaction derived from the consumption of one more unit of a good is called

A.

Marginal cost

B.

Marginal product

C.

Marginal revenue

D.

Marginal utility

E.

Total Utility

Correct answer is D

No explanation has been provided for this answer.

15.

Data presented in tables are usually arranged in ………… and …………

A.

Charts, Tables

B.

Graphs, Rows

C.

Pictograms, Columns

D.

Rows, Columns

Correct answer is D

No explanation has been provided for this answer.