Public Finance - Jamb Economics Past Questions and Answers

Question 116:

• JAMB 2005

If government increases in its expenditure on public works, the desired effect is

A. A reduction in the use of capital equipment
B. An increase in the level of emploment
C. An increase in the level of inflation
D. An increase in the use of capital equipment

Question 117:

• JAMB 2006

Personal income tax as a source of government revenue is increased when the

A. Tax rate is raised
B. Tax system is proportional
C. Retirement age is reduced
D. Tax base is contracted

Question 118:

• JAMB 2006

When the federal government guarantees a loan for a state government, such a loan constitutes

A. A public debt
B. A transferred debt
C. A private debt
D. An inter-governmental debt

Question 119:

• JAMB 2006

The main source of government revenue in Nigeria is

A. Import duties
B. Rents and royalties
C. Company income tax
D. Capital gains tax

Question 120:

• JAMB 2006

The Revenue Mobilization, Allocation and Fiscal Commission in Nigeria has the primary responsibility for

A. Maintaining the fiscal supremacy of the central government the fiscal supremacy of the central government
B. Evolving an acceptable wage for public servants
C. Evolving an acceptable revenue-sharing formula
D. Ensuring equity in the sharing of fiscal responsibilities