Sources of government revenue - Jamb Economics Past Questions and Answers

Question 6:

• JAMB 1982

The chief sources of Federal Government revenue in Nigeria are?

A. Import duties, petroleum, import tax, profit tax, royalties and government dividends
B. Personal income tax, excise tax and vehicle licenses
C. Export duties, personal income tax and royalties
D. Property income, sales tax and excise tax
E. Import duties, sales tax and poll tax

Question 7:

• JAMB 1982

One of the ways by which Government derives revenue from industrial enterprises in West Africa is?

A. Tariffs
B. Excise duties
C. Poll tax
D. Import duties
E. Community tax

Question 8:

• JAMB 1984

The economic goal of public utilities is to?

A. Maximize profit
B. Expand assets
C. Minimize costs
D. Provide essential services
E. Pay higher dividends to shareholders

Question 9:

• JAMB 1987

In order to raise more revenue for a certain period, government should impose higher taxes on goods whos demand is?

A. Elastic
B. Inelastic
C. Perfectly elastic
D. Unitary elastic

Question 10:

• JAMB 1989

The three groups of government revenue are?

A. Investment income, direct tax and indirect tax
B. Imports duties, excise tax and export duties
C. Company tax, personal income tax and import duties
D. Company tax, import duties and excise tax