Public Finance - Jamb Economics Past Questions and Answers

Question 76:

• JAMB 1990

The relationship between tax rate and income which is relevant to a progressive tax is shown by

A. Curve X
B. CurveY
C. Curve Z
D. Curve X and Z

Question 77:

• JAMB 1990

THE RELATIONSHIP BETWEEN TAX RATE AND INCOME WHICH IS RELEVANT TO A PROPORTIONAL TAX IS DEPICTED BY

A. CURVES Z AND Y
B. CURVE X
C. CURVE Z
D. CURVE Y

Question 78:

• JAMB 1991

A tax that takes an increasing fraction of income as income goes down is called?

A. Conditional
B. Regressive
C. Progressive
D. Proportional

Question 79:

• JAMB 1991

Budget deficit is the amount by which?

A. Total expenditure exceeds revenue
B. Recurrent expenditure exceeds revenue
C. Capital expenditure exceeds revenue
D. Recurrent expenditure exceeds capital expenditure

Question 80:

• JAMB 1991

The average tax rate is defined as

A. Total tax rate less the marginal tax rate
B. The tax rate which applies to additional value income
C. The ratio of total taxes paid to total income
D. Marginal tax rate for being progressive