Public Finance - Jamb Economics Past Questions and Answers

Question 106:

• JAMB 2002

The types, sources and uses of government income are mainly concerned with?

A. Public expenditure
B. Public revenue
C. Public budget
D. Public finance

Question 107:

• JAMB 2003

The major objective of a revenue allocation formula in a country is to

A. Share revenue between the different tiers of government
B. Divert revenue from areas of surplus to areas of need
C. Ensures the financial viability of the country
D. Share revenue between the public and private factors

Question 108:

• JAMB 2003

A greater burden of the taxes on essential goods is borne by the

A. Lower income group
B. Higher income group
C. Contract workers
D. Newly recruited workers

Question 109:

• JAMB 2003

The effect of an increase in the personal income tax is to

A. Reduce unemployment
B. Raise the absolute price level
C. Reduce the disposable income
D. Distort the economy

Question 110:

• JAMB 2004

Maximum wage legislation seeks to

A. Fix wages above the equilibrium wage rate
B. Set wages below the equilibrium wage rate
C. Deter employers from exploiting their employees
D. Ensure an upper limit to the wages payable