Neco Economics Past Questions and Answers

Question 251:

• 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 252:

• 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 253:

• 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 254:

• 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

Question 255:

• NECO 2009

When the value of a country’s export exceeds her imports, there will be a ____________

A. Deficit current account
B. Excess visible imports only
C. Favorable balance of trade
D. Favourable capital account
E. Surplus current account