Economics Past Questions and Answers

Tools of monetary policy do not include ____________

A Open market operations
B Reserve requirement
C Bank rate
D Tax and public expenditure

Question 1827:

During inflation, the appropriate fiscal measure to adopt is to ____________

A Increase indirect taxes
B Increase direct taxes
C Reduce personal income tax
D Increase government expenditure

Question 1828:

Mr. X and Mrs. Y pay $500.00 and $1,400.00 as taxes on their earning of S5,000.00 and $7,000.00 respectively. The system of taxation employed is ____________

A Specific tax
B Proportional tax
C Regressive tax
D Progressive tax

Question 1829:

Expenditure on food takes a large proportion of the incomes of people in ____________

A Industrialized countries
B Advanced countries
C Developing countries
D Capitalist countries

Question 1830:

A country should embark on development planning to ensure that ____________

A It becomes popular among the comity of nations
B It also does what others are doing
C Its scarce productive resources are efficiently utilized
D The nation is able to contribute its own quota to international organizations.