Sources of government revenue - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 2017

Which of the following is NOT a source of government revenue?

A. Grants, aids and borrowing
B. Taxes, fees, licenses and fines
C. Interest, dividends, profits and earnings
D. Personal income, disposable income and transfer earnings

Question 3:

• JAMB 1978

The biggest source of government revenue in Nigeria is

A. Mining, rents and royalties
B. Company income tax
C. Import duties
D. Export duties
E. Petroleum profit tax

Question 4:

• JAMB 1980

Which is NOT a method of raising capital funds in Nigeria?

A. Borrowing from abroad
B. Internal borrowing
C. Nigerianization of foreign companies
D. Gifts from abroad
E. Saling government bonds

Question 5:

• JAMB 1981

Government in West Africa countries engage in running a number of enterprises because ?

A. Large amount of capital are needed and key industries should not be left in private hands
B. Private capital would not established an adequate infrastructure
C. It brings about a more even distribution of the country’s wealth
D. The social costs of some enterprises make the government the most suitable body to set them up
E. All of the above