Waec Economics Past Questions and Answers

Question 566:

• WAEC 2000

A tax on a commodity whose demand is perfectly inelastic will fall heavily on the

A. Consumer
B. Manufacturer
C. Wholesaler
D. Retailer

Question 567:

• WAEC 2000

The main feature of regressive taxation is that its rate

A. Is higher when income is higher
B. Is equal tax for all categories of people
C. Remains constant when income increases
D. Reduces when income increses

Question 568:

• WAEC 2000

Which of the following is an item of government recurrent expenditure?

A. Road construction
B. Port facilities
C. Wages and Salaries
D. Telecommunication projects

Question 569:

• WAEC 2000

Which of the following is an item of government recurrent expenditure?

A. Road construction
B. Port facilities
C. Wages and Salaries
D. Telecommunication projects

Question 570:

• WAEC 2000

Deficit budget means that government’s

A. Government expenditure is equal to its revenue
B. Planned expenditure is more than the estimated income
C. Planned income and expenditure target cannot be achieved
D. Expenditure is less than estimated revenue