Principles of taxation - Jamb Economics Past Questions and Answers

Question 41:

• JAMB 1993

Which of the following are the major disadvantage of direct system of taxation?i, Disincentive of hard work
ii,Difficulties in assessment and collection
iii, imperfection in tax assessment.

A. I and ii
B. I and iii
C. Ii and iii
D. I, ii and iii

Question 42:

• JAMB 1994

Progressive tax structure is designed to?

A. Take more from the income of the poor
B. Take more from income of the rich
C. Take equal proportion of income from both the rich and the poor
D. Reduce the problems emanating from tax imposition

Question 43:

• JAMB 1994

Taxes and government expenditures are instrument of?

A. Monetary policy
B. Tax policy
C. Economic policy
D. Fiscal policy

Question 44:

• JAMB 1995

The diagram above explains the effect of government's imposition of an indirect tax on a good characterized by zero price elasticity of demand. The total tax revenue is represented by

A. P₁EHP_o
B. P_oHQ_o0
C. P₁EQ_o0O
D. P₁ED₁P_o

Question 45:

• JAMB 1995

The diagram above explains the effect of government's imposition of an indirect tax on a good characterized by zero price elasticity of demand.The tax imposed is borne

A. Totally by the consumer
B. Totally by the producer
C. Equally by both the consumer and the producer
D. By the the government