Neco Economics Past Questions and Answers

Question 216:

• 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 217:

• NECO 2007

In a solo proprietorship, decisions are made by the ____________

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

Question 218:

• 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

Question 219:

• NECO 2007

The following are advantages of standard deviation EXCEPT that it ____________

A. Has greater practical utility In sampling
B. Is a good measure of dispersion since all the values are used in its calculation
C. Is important and useful in the analysis of T- Test
D. Is not a sound mathematical index
E. Is the most popular measure of dispersion in distribution

Question 220:

• NECO 2007

The difference between bar charts and histograms is that the former

A. Are difference between bars adjoined to each other while the latter are separate bars divided Into sections
B. Are line graphs while the latter are rectangular bars
C. Are separate bars divided Into sections while the latter are line graphs
D. Has bars adjoined to each other while the latter has separate bars
E. Has bars separate from each other while the latter has bars adjoined to each other