NECO Economics Past Questions & Answers - Page 52

256.

Which of the following factors will NOT account for an outward shift of production possibility curve?

A.

Budgeting and planning based on expectations

B.

Expansion in employment

C.

Discovering and exploration of new resources

D.

Introduction of improved production techniques

E.

Skill improvement through education and training

Correct answer is A

No explanation has been provided for this answer.

257.

If commodities A & B are jointly demanded, what will be the effect of an increase in the price of A on the demand for commodity B?

A.

Decrease in demand for commodity B

B.

Decrease in price of commodity B

C.

Demand for commodity B remain constant

D.

Increase in demand for commodity B

E.

Increase in the price of commodity B

Correct answer is A

No explanation has been provided for this answer.

258.

The middle value of an array figure arranged in descending order is referred to as the

A.

Equation

B.

Mean

C.

Median

D.

Mode

E.

Variance

Correct answer is C

No explanation has been provided for this answer.

259.

What is the median term in the distribution below; 14, 13, 29. 15, 13, 17, 12.

A.

12

B.

13

C.

14

D.

15

E.

29

Correct answer is C

No explanation has been provided for this answer.

260.

The comparison of the standard of living between Nigeria and Ghana is best down through the use of

A.

Gross domestic product

B.

Gross National incomes

C.

Net disposable income

D.

Net National income

E.

Per capita income

Correct answer is E

No explanation has been provided for this answer.