Neco Economics 2007 Past Questions and Answers

Question 36:

• NECO 2007

Unemployment resulting from physical or mental deficiency is known as ____________ unemployment.

A. Cyclical
B. Disguised
C. Frictional
D. Residual
E. Voluntary

Question 37:

• NECO 2007

At the point where total utility begins to decline MU is ____________

A. Constant
B. Decreasing
C. Increasing
D. Negative
E. Zero

Question 38:

• NECO 2007

The difference between Gross National Income and Gross Domestic Product is known as ____________

A. Capital consumption
B. Debt repayments
C. Investment abroad
D. Net income from abroad
E. Net saving

Question 39:

• NECO 2007

In a solo proprietorship, decisions are made by the ____________

A. Board of directors
B. Government
C. Management
D. Owner
E. Shareholders

Question 40:

• NECO 2007

Find the arithmetic mean of the following set of scores 12, 4, 2, 8, and 14

A. 8
B. 10
C. 12
D. 14
E. 30