Neco Economics 2007 Past Questions and Answers

Question 21:

• NECO 2007

Which of the following goods are NOT examples of joint supply?

A. Beef and hides
B. Fuel and kerosene
C. Palm oil and kernel
D. Tea and coffee
E. Wool and Mutton

Question 22:

• NECO 2007

The following countries are members of ECOWAS EXCEPT

A. Angola
B. Ghana
C. Ivory coast
D. Liberia
E. Niger Republic

Question 23:

• NECO 2007

A tax system in which the income earner pays a fixed percentage of his income annually is known as ____________ tax.

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

Question 24:

• NECO 2007

A comprehensive statement of Income and expenditure on international accounts for one financial year is called ____________

A. Balance of payments
B. Balance of trade
C. Budget
D. Index of trade
E. Terms of trade

Question 25:

• NECO 2007

The African Development Bank was set up in 1964 and has its headquarters in ____________

A. Burkina Faso
B. Ivory Coast
C. Liberia
D. Niger Republic
E. Senegal