Waec Economics Past Questions and Answers

Question 636:

• WAEC 2001

public expenditure can be financed from all the following sources except the

A. Borrowing
B. Grant-in-aid
C. Royalties and rent
D. Mobilization fees

Question 637:

• WAEC 2001

which of the following is a direct tax

A. Import duty
B. Export duty
C. Capital gain tax
D. Sales tax

Question 638:

• WAEC 2001

Tax evasion means

A. Postponing paymeny of tax
B. Tax payment according to ability to pay
C. Making false declaration of taxable income
D. Paying little amount of money as tax

Question 639:

• WAEC 2001

A greater burden of tax on a product with high price elasticity of demand rests mainly on the

A. Producer
B. Teacher
C. Civil servant
D. Middlemen

Question 640:

• WAEC 2001

An ad volarem tax refers to a tax

A. Imposed on exports
B. On goods manufactured in the country
C. Based on the value of the commodity
D. Levied on income