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Economics 2001 WAEC Past Questions

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36
if there is an increase in wages and salaries without corresponding increase in the supply of goods and services, the situation will lead to
  • A. a reduction in aggregate demand
  • B. inflation
  • C. depression
  • D. budget surplus
View Answer & Discuss WAEC 2001
37
public expenditure can be financed from all the following sources except the
  • A. borrowing
  • B. grant-in-aid
  • C. royalties and rent
  • D. mobilization fees
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38
which of the following is a direct tax
  • A. import duty
  • B. export duty
  • C. capital gain tax
  • D. sales tax
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39
Tax evasion means
  • A. postponing paymeny of tax
  • B. tax payment according to ability to pay
  • C. making false declaration of taxable income
  • D. paying little amount of money as tax
View Answer & Discuss WAEC 2001
40
A greater burden of tax on a product with high price elasticity of demand rests mainly on the
  • A. producer
  • B. teacher
  • C. civil servant
  • D. middlemen
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