Public Finance - Jamb Economics Past Questions and Answers

Question 31:

• JAMB 1980

In the above diagram supply and demand conditions of sugar in a Nigerian market are given. An indirect tax of 10 kobo per kg is imposed it will be paid

A. Wholly by the supplier
B. Wholly by the consumer
C. Partly by the supplier and partly by the consumer
D. Wholly by the middlemen
E. Partly by stockholder and partly by consumer

Question 32:

• JAMB 1980

Which is the dominant form of tax in Nigeria

A. Direct tax
B. Indirect tax
C. Inheritance tax
D. Personal income tax
E. Value added tax

Question 33:

• JAMB 1980

If the government is interested in raising the highest revenue from a tax system, then for any two commodities

A. It is better to tax one whose demand is more elastic
B. It is better to tax one whose demand is more inelastic
C. Revenue will be the same from both commodities
D. It is not possible to say which will yield higher revenue
E. Government cannot make much revenue from taxing commodities

Question 34:

• JAMB 1981

Government in West Africa countries engage in running a number of enterprises because ?

A. Large amount of capital are needed and key industries should not be left in private hands
B. Private capital would not established an adequate infrastructure
C. It brings about a more even distribution of the country’s wealth
D. The social costs of some enterprises make the government the most suitable body to set them up
E. All of the above

Question 35:

• JAMB 1981

Indirect taxes are taxes?

A. Which are levied on the incomes and profits of individuals and firms
B. Whose incidence always falls on the consumer
C. Which are based on the progressive principle
D. On casinos, airports and capitals gains
E. Which are levied on people and economic units through the goods and services they purchase