Question 321:

• JAMB 2015

All the following are the canons of taxation given by Adam Smith except

A. Objective
B. Economy
C. Convenience
D. Certainty

Question 322:

• JAMB 2015

Census can be classified as

A. Defacto and dejure
B. Increasing and decreasing
C. Over and under
D. Optimum

Question 323:

• JAMB 2015

A firm that charges the maximum price without attracting competition from new entrants is

A. Oil firms
B. Monopolistic competitive firm
C. Monopolistic firm
D. Perfectly competitive firm

Question 324:

• JAMB 2015

The quantity theory of money states that a reduction in the quantity of money in circulation would bring about

A. A constant change in price
B. A rise in prices
C. An unequal fall in prices
D. A proportionate fall in price

Question 325:

• JAMB 2015

The tax levied on locally produced goods is

A. Import duty
B. Excise duty
C. Company tax
D. Value added tax