NECO Economics Past Questions & Answers - Page 53

261.

The bank established to finances project aimed at promoting economic and social development within the African continent is

A.

African bank for commerce and industry

B.

African development bank

C.

Economic bank for African

D.

Recovery fund bank for Africa

E.

Africa currency board bank

Correct answer is B

No explanation has been provided for this answer.

262.

The main disadvantages of deflationary policies is

A.

Full employment in the country

B.

Increasing cost of living

C.

Improved standard of living

D.

Unemployment in the country

E.

Under employment in the country

Correct answer is D

No explanation has been provided for this answer.

263.

In income determination theory, acceleration principles shows that

A.

Income is the cause, while investment is the effect investment

B.

Income and investment are both causes

C.

Income and investment are both effects

D.

Incomes is of on effect on investment

E.

Investment is the causes, while income is the effects

Correct answer is A

No explanation has been provided for this answer.

264.

A market situation with few sellers and many buyers is called

A.

Monopoly

B.

Duopoly

C.

Oligopoly

D.

Perfect competition

E.

Monopsony

Correct answer is C

No explanation has been provided for this answer.

265.

Which of these is NOT associated with the problem of internal trade?

A.

Bargaining

B.

Lack of specialization

C.

Market trade unions

D.

Natural barriers

E.

Large number of middlemen

Correct answer is D

No explanation has been provided for this answer.