Economics Past Questions and Answers

Which of the following are direct taxes?

A Sale taxes
B Excise duties
C Income and company taxes
D Tarrif duties
E Commodity taxes

Question 2262:

Which of the following is a function of money? It is

A Portable
B A standard of diferred payment
C Relatively stable in value
D Generally acceptable
E An easily divisible item

Question 2263:

The productivity of labour does not depend only o its own effort and efficiency, but also on I the level of technical knowledge II. the quality of other factors III. racial qualities which allow persons from certain races to have good physique and be very active . Which of the above statements is /are correct?

A I only
B I and II only
C I and III only
D II and III only
E III only

Question 2264:

A tax is said to be good when

A It yields more revenue to the state at the expense of the people's ability to pay
B The cost of collecting it is equal to the revenue it generates
C It is imposed so suddenly that no one can dodge its payment
D Its payment causes minimum incovenience to the tax payer
E It induces workers to prefer more leisure to extra work

Question 2265:

Which of the following is a public corporation?

A Roads (Nigeria) Plc
B National Oil and Chemical Marketing Co. Plc
C Union Bank of Nigeria Plc
D Volkswagen of Nigeria Plc
E National Electric Power authority