Neco Economics Past Questions and Answers

Question 201:

• 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 202:

• 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 203:

• 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

Question 204:

• NECO 2007

The Industrial strategy of producing locally those goods that could have been imported is known as ____________

A. Balance growth
B. Export promotion
C. Import substitution
D. Industrialization
E. Urbanization

Question 205:

• NECO 2007

Which of the following Is NOT a function of Merchant Bank

A. Helps public companies to issue new shares
B. Provision of medium and long-term loans
C. They accept bills of exchange
D. They guarantee the buying of shares
E. They implement government monetary policies