Neco Economics 2009 Past Questions and Answers

Question 26:

• NECO 2009

The International Monetary Fund (IMF) was set up mainly to ____________

A. Cater for financial needs of developed countries
B. Create conditions favourable for the growth of world trade
C. Create favourable balance of payment
D. Develop domestic trade
E. Offset foreign debts only

Question 27:

• NECO 2009

The correct relationship between income (Y), consumption (C) and savings (S) is ____________

A. C = Y + S
B. S = Y + C
C. S = Y + S
D. Y = C + S
E. Y = C – S

Question 28:

• NECO 2009

The first National development plan period was from ____________

A. 1955-1959
B. 1962-1968
C. 1965-1970
D. 1970-1974
E. 1975-1980

Question 29:

• NECO 2009

These are the objectives of industrial strategies in Nigeria EXCEPT

A. Industrial financing
B. Maximization of local value added
C. Promotion of export oriented industries
D. Promotion of import oriented industries
E. Provision of economic and social infrastructures

Question 30:

• NECO 2009

Using Expenditure Approach to estimate National Income, Y is equal to ____________

A. C + l + G + X – M + P - V
B. C + l + G + X – M + P
C. C + l + G – X + P
D. C – 1 + G + X – M + P
E. C + l – G + X – M – P