Public Finance - Jamb Economics Past Questions and Answers

Question 136:

• JAMB 2020

A budget with a projected revenue in excess of its expenditure is said to be?

A. Balanced
B. Surplus
C. Deficit
D. Inflationary

Question 137:

• JAMB 2020

In order to raise more revenue for a certain period, the government should impose higher taxes on goods whose demand

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

Question 138:

• JAMB 2020

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

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

Question 139:

• JAMB 2020

The relationship between tax rate and income which is relevant to a proportional tax is depicted by?

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

Question 140:

• JAMB 2020

The use of legally permissible means to reduce tax liabilities is known as tax?

A. Evasion
B. Avoidance
C. Relief
D. Exemption