Neco Economics 2003 Past Questions and Answers

Question 41:

• NECO 2003

In economics, electricity, water supply, communication networks, road, etc are known as ____________

A. Capital structure
B. Development induces
C. Development projects
D. Infrastructural facilities
E. Project growth

Question 42:

• NECO 2003

A tax system which takes lesser percentage of a tax payers income as his income increase is known as ____________

A. Direct tax
B. Indirect tax
C. Progressive tax
D. Proportional tax
E. Regressive tax

Question 43:

• NECO 2003

Efficiency of labour implies ____________

A. Education and training
B. Good working condition
C. Healthier workforce
D. Increased productivity worker accompanied by improvement in the quality of output
E. The amount of incentives or remuneration given to workers

Question 44:

• NECO 2003

Which of the following is NOT a cause of inflation?

A. Excessive bank lending
B. Excessive deficit financing
C. Increase in domestics productivity
D. Increase in wages and salaries of workers
E. Increase in government expenditure

Question 45:

• NECO 2003

One of the following is NOT a reason for increase in public expenditure

A. Decrease arising from public debt and its servicing
B. Increase in capital expenditure to provide social services
C. Increase financial commitment for defence and security
D. Increase in recurrent expenditure with regard to wages and salary paid to public servant
E. Returns on viable public corporation