NECO Economics Past Questions & Answers - Page 6

26.

The growth of a country’s population is affected by

A.

Military might of the country

B.

Number of births per thousand of the population

C.

Number of people willing to be counted

D.

The amount of money in circulation

E.

The number of men in the population

Correct answer is B

No explanation has been provided for this answer.

27.

The unit for measuring changes in prices and output is called ………………. index

A.

Capital

B.

Expenditure

C.

Income

D.

Money

E.

Price

Correct answer is E

No explanation has been provided for this answer.

28.

One of the positive contributions of the petroleum industry to Nigeria’s economic development is that it

A.

Creates ecological problems

B.

Creates political unrest

C.

Creates uncertainties in government revenues

D.

Is a major foreign exchange earner

E.

Suppresses agricultural development

Correct answer is D

No explanation has been provided for this answer.

29.

Which of these factors causes a change in the quantity demanded of a commodity?

A.

Income

B.

Population

C.

Price of other commodities

D.

Price of the commodity concerned

E.

Taste and fashion

Correct answer is D

No explanation has been provided for this answer.

30.

The value of money is affected by

A.

Consumer’s income

B.

Effective demand

C.

Effective supply

D.

Equilibrium price

E.

General price level

Correct answer is E

No explanation has been provided for this answer.