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611
A tax that takes an increasing fraction of income as income goes down is called?
  • A. conditional
  • B. regressive
  • C. progressive
  • D. proportional
View Answer & Discuss JAMB 1991
612
Budget deficit is the amount by which?
  • A. total expenditure exceeds revenue
  • B. recurrent expenditure exceeds revenue
  • C. capital expenditure exceeds revenue
  • D. recurrent expenditure exceeds capital expenditure
View Answer & Discuss (4) JAMB 1991
613
The average tax rate is defined as
  • A. total tax rate less the marginal tax rate
  • B. the tax rate which applies to additional value income
  • C. the ratio of total taxes paid to total income
  • D. marginal tax rate for being progressive
View Answer & Discuss JAMB 1991
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
614
Personal distribution of income implies?
  • A. the way in which income is distributed among specific households or spending units
  • B. the distribution of income according to basic resources
  • C. dividing income according to industries
  • D. dividing income between personal taxes, consumption expenditures and savings
View Answer & Discuss JAMB 1991
615
One of the advantages of international trade is that it?
  • A. increases world output
  • B. encourages economic independence among nations
  • C. restricts spread of technical knowledge
  • D. promotes self-reliance and satisfaction with only what can be produced internally
View Answer & Discuss JAMB 1991
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts