Public Finance - Jamb Economics Past Questions and Answers

Question 51:

• JAMB 1984

Public expenditure on services, such as education and health, is known as expenditure on

A. General services
B. Community services
C. Social services
D. Economic services
E. Administrative services

Question 52:

• JAMB 1985

A state budget is an outline of planned

A. Expenditures and revenues expected within a financial year
B. Expenditures of ministries and parastatals within a given period
C. Recurrent and capital expenditures within a year
D. Sources of revenues derivationn for a financial year
E. Use of different kinds of taxation in a given year

Question 53:

• JAMB 1985

Which of the following is NOT among the canons of taxation as set out by Adam Smith?

A. Equality
B. Security
C. Certainty
D. Convenience
E. Economy

Question 54:

• JAMB 1985

An example of a regressive tax is?

A. The personal income tax
B. The graduated corporation income tax
C. A general sales tax
D. The inheritance tax
E. The excise tax

Question 55:

• JAMB 1985

Tax which is levied on goods manufactured, sold or used within a country is?

A. Sales tax
B. Excise tax
C. Direct tax
D. Income tax
E. Poll tax