Public Finance - Jamb Economics Past Questions and Answers

Question 11:

• JAMB 2015

The situation whereby the government of a country spends more than its budgets for a given financial year is known as

A. Surplus budget
B. Deficit budget
C. Balanced budget
D. Minus budget

Question 12:

• JAMB 2015

The curve labeled III illustrate a system of taxation

A. Regressive tax
B. Progressive tax
C. Value added tax
D. Proportional tax

Question 13:

• JAMB 2015

The curve labeled II illustrates a system of taxation

A. Proportional tax
B. Regressive tax
C. Value added
D. Progressive tax

Question 14:

• JAMB 2015

Mr. Patrick’s income is N900 while that of Mr. Shodawe is N1,300. if Mr. Patrick and Shodawe pay N90 and N130 as taxes, the tax system is

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

Question 15:

• JAMB 2015

All the following are the canons of taxation given by Adam Smith except

A. Objective
B. Economy
C. Convenience
D. Certainty