NATIONAL ECONOMICS OLYMPIAD (NEO) 2022 – FUS-FIRST ROUND

 If Smith can produce 40 shoes or 30 boots per day and Jones can produce 50 shoes or 40 boots per day, Jones has a comparative advantage in producing

• shoes

• boots

• neither shoes nor boots

• both shoes and boots.  

   

Each martian has one, two or three tentacles on its head. Exactly 1% of the martian population consists of individuals with three tentacles, exactly 97% comprise of Martians with two tentacles and the remaining 2% consists of individuals with one tentacle. How many percent of Martians have more tentacles on their head than the average of the whole Martian population ?

• 1%

• 3%

• 97%

• 98%

3. Alicia earns N2000  per hour, of which 1.45% is deducted to pay local taxes. How many Naira per hour of Alicia's wages are used to pay local taxes?

• 0.029

• 0.29

• 2.9

• 29

Elections in Herbville were held. Every voter who voted for the Broccoli Party had already eaten broccoli. 90 % of the remaining voter who voted for other parties had never eaten broccoli. How many percent did the Broccoli Party get in the elections, if precisely 46% of all voters attending the elections had eaten broccoli ?

• 40%

• 41%

• 43%

• 45%

All the tickets in the first row in a cinema were sold. The seats are numbered consecutively starting with 1.  An extra ticket was sold for one seat by mistake. The sum of the seat numbers on all tickets sold for that row is equal to 857. What is the number of the seat for which two tickets were sold?

• 4

• 16

• 25

• 37

 Edward has 2017 notes of the denominations N10, N50, and N100. If he puts aside one of the N100 notes, he is left with twice as many N10 notes as  N50 notes and twice as many N50 notes as N100 notes. How many N100 does Edward have?

• 280

• 572

• 289

• 1153

 Bertha has 6 daughters and no sons. Some of her daughters have 6 daughters each, and the rest have none. Bertha has a total of 30 daughters and granddaughters, and no great-granddaughters. How many of Bertha's daughters and grand-daughters have no children?

• 22

• 23

• 24

• 26

. A company sells peanut butter in cylindrical jars. Marketing research suggests that using wider jars would increase sales. If the diameter of the jars is increased by  25% without altering the volume, by what percent must the height be decreased?

   

• 10%.

• 25%.

• 36%

• 50%

The sum of 49 consecutive integers is 7⁵. What is their median?

• 7   

• 7²

• 7³

• 7⁴

Brenda and Sally run in opposite directions on a circular track, starting at diametrically opposite points. They first meet after Brenda has run 100 meters. They next meet after Sally has run 150 meters past their first meeting point. Each girl runs at a constant speed. What is the length of the track in meters?

• 250

• 300

• 350

• 400