Public Finance - Jamb Economics Past Questions and Answers

Question 56:

• JAMB 1985

Under normal circumstances a producer will bear the entire burden of taxation on his output if the?

A. Demand for his product is completely elastic
B. Supply of his goods is more elastic than the demand
C. Demand for his product is more elastic than the supply
D. Production of his commodities is subject to diminishing returns
E. Production of his commodities is subject to increase returns to scale

Question 57:

• JAMB 1986

What fundamentally determines how much a consumer spends in a producer's shop?

A. Individual's propensity to consume
B. Level of his taxation
C. Level of his income
D. Individual's taste or fashion

Question 58:

• JAMB 1986

Which of the following is NOT a goal of modern budgets?

A. The control of inflation
B. The reduction in income inequality
C. The shift of all resources from the private to the public sector
D. Economic development

Question 59:

• JAMB 1986

The best technical description of a progressive tax is a?

A. Tax which takes more money from the rich than from the poor
B. More equitable tax than aggressive one
C. Tax which takes a higher proportion of extra naira received as income rises
D. Tax which falls directly on those in the high income brackets

Question 60:

• JAMB 1986

Tax incidence is the analysis of?

A. How progressive a tax is
B. How a tax is collected
C. Hw distorting a tax is
D. Who ultimately pays the tax