Neco Economics Past Questions and Answers

Question 211:

• NECO 2007

Which of the following is an advantage of free enterprise economy?

A. Allocates resources better
B. Avoids extreme Inequality of income
C. Full employment
D. It is very competent In providing vital social services
E. No need of employing a host of officials to allocate resources

Question 212:

• NECO 2007

A tax system in which the rich pays a higher percentage income as tax than the poor is known as ____________

A. Capital gains tax
B. Progressive taxation
C. Proportional taxation
D. Regressive taxation
E. Sales tax

Question 213:

• NECO 2007

Population density refers to ____________

A. Total population
B. The total population divided by the total area of land
C. The total area of land divided by the total population
D. The population ratio of male and female
E. Optimum Population level

Question 214:

• NECO 2007

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

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

Question 215:

• NECO 2007

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

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