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Economics Past Questions

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436
Ad valorem tax means?
  • A. a certain percentage tax based on the value of the commodity
  • B. a certain percentage tax based on the volume of the commodity
  • C. a tax on the income of the consumer
  • D. payment of a tax on the profits made
View Answer & Discuss JAMB 1987
437
In order to raise more revenue for a certain period, government should impose higher taxes on goods whos demand is?
  • A. elastic
  • B. inelastic
  • C. perfectly elastic
  • D. unitary elastic
View Answer & Discuss JAMB 1987
438
A budget with a projected revenue in excess of its expenditure is said to be?
  • A. balanced
  • B. surplus
  • C. deficit
  • D. inflationary
View Answer & Discuss JAMB 1987
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439
The money which government spends yearly for the maintenance of its school is?
  • A. used only for wages and salaries
  • B. part of the government's capital expenditure
  • C. part of the government's recurrent expenditure
  • D. the government's budget for its school
View Answer & Discuss JAMB 1987
440
Which of the following applies to a commodity sold abroad at a price lower than that in the producing country?
  • A. Dumping
  • B. Counter-trade
  • C. Bilateral trade
  • D. Trade liberalization
View Answer & Discuss JAMB 1987
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts