Public Finance - Jamb Economics Past Questions and Answers

Question 21:

• JAMB 1979

Which of the following is not a direct tax?

A. Company income tax
B. Capital tax
C. Purchase tax
D. Personal income tax
E. Capital gain tax

Question 22:

• JAMB 1979

Which of the following is not an indirect tax?

A. Excise duty
B. Company tax
C. Import duty
D. Export duty
E. Sales tax

Question 23:

• JAMB 1979

If Mr A earns N2,000 a year while Mr B earns N8,000 but Mr a pays N200 in tax per annum while Mr B pays N400, such a tax is

A. Progressive
B. Indirect
C. Regressive
D. Proportional
E. None of the above

Question 24:

• JAMB 1979

If a government is running deficit, this means

A. A term of trade are unfavourable
B. More project cannot be undertaken
C. Tax inflow is greater than expenditure
D. Aggregate demand is greater than aggregate supply
E. Tax inflow is less than expenditure

Question 25:

• JAMB 1979

An ad valorem tax means

A. Total amount of an income tax
B. A certain percentage on the value of a commodity
C. A certain percentage tax on the volume of commodity
D. A tax on capital gain
E. A profit tax