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Economics Past Questions and Answers

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Economics Questions

Question 766:

A state budget is an outline of planned

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A Expenditures and revenues expected within a financial year
B Expenditures of ministries and parastatals within a given period
C Recurrent and capital expenditures within a year
D Sources of revenues derivationn for a financial year
E Use of different kinds of taxation in a given year

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Question 767:

Which of the following is NOT among the canons of taxation as set out by Adam Smith?

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A Equality
B Security
C Certainty
D Convenience
E Economy

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Question 768:

An example of a regressive tax is?

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A The personal income tax
B The graduated corporation income tax
C A general sales tax
D The inheritance tax
E The excise tax

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Question 769:

Tax which is levied on goods manufactured, sold or used within a country is?

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A Sales tax
B Excise tax
C Direct tax
D Income tax
E Poll tax

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Question 770:

By terms of trade, we mean the?

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A Ratio of exports and imports
B Differences between exports and imports
C Differences between current account and capital account
D Index of export prices to import prices expressed as a percentage
E Ratio of short-term capital movements to long-term capital movements

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