Post Utme Economics Past Questions and Answers

Question 541:

A tax statement is said to be progressive if ____________

A. The tax rate remains the same regardless of the size of income
B. The tax increases the total volume of consumer expenditure
C. The tax rate increases as income increases
D. The tax rate declines as income increases

Question 542:

Which of the following is not an important source of revenue for the federal government

A. Personal income taxes
B. Payroll taxes
C. Corporate income taxes
D. Property

Question 543:

Transfer payments do not include ____________

A. Aid to the handicapped
B. Social security payments
C. Government expenditure on education and manpower
D. Payments to farmers under certain agricultural programme

Question 544:

A worker changes from one type of job to another in his life: this is called ____________

A. Geographical mobility of labour
B. Occupational mobility of labour
C. Immobility of labour
D. Rural-urban migration
ANSWERS

Question 545:

When all factors inputs are reduced by half, the product possibility curve will shift ____________

A. Outwards
B. Inwards
C. Downwards
D. Upwards