Economics 2003 Waec Past Questions and Answers

Question 41 :

• WAEC 2003

Government of West African countries levy taxes to

A. Prevent prices from falling
B. Make people richer
C. Limit the number of banks
D. Finance government projects

Question 42 :

• WAEC 2003

Which of the following is a direct tax?

A. Import duties
B. Purchase tax
C. Export duties
D. Personal income tax

Question 43 :

• WAEC 2003

The tax whose rate increase as the level of income increases is known as

A. Regressive tax
B. Proportional tax
C. Progressive tax
D. Company tax

Question 44 :

• WAEC 2003

Public expenditure on on education and health is known as expenditure on

A. General services
B. Social services
C. Commercial services
D. Economic services

Question 45 :

• WAEC 2003

budget deficit can be financed by

A. Reducing the level of taxation
B. Printing more money
C. Lending to financial institution
D. Employing more workers