2008 - WAEC Economics Past Questions and Answers - page 5
41
Public finance is basically an analysis of the
A
income and expenditure of government
B
expenditure patterns of the government
C
current and capital receipts of the government
D
current and capital expenditure of the government
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42
A major use of taxation is to
A
control population growth rate
B
influence people's spending habits
C
control money supply
D
create bank credits
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43
A tax which is expressed as a given absolute sum of money per unit of a commodity is known as
A
a specific tax
B
a direct tax
C
an indirect tax
D
a value added tax
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44
All indirect taxes tends to be
A
progressive
B
regressive
C
certain
D
equitable
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45
Which of the following will have a more destabilizing effect on the economy?
A
a tax on the price of vehicle
B
a tax on petrol
C
a decrease in the supply of vehicle
D
moderate increase in wages
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46
An important feature of economic development is
A
population explotion
B
reduction in exports
C
high literacy level
D
low exports
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47
Trades among nations is desirable because
A
enables people in a coutry to know those in other countries
B
makes it possible for people in a country to enjoy the goods and services produced in other countries
C
enables residents in country a to understand the language of residents of other countriesd
D
makes it possible for a country to have the currencies of other countries
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48
Invisible trade refers to trade in
A
services
B
goods and services
C
tangible goods
D
crude oil
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49
Balance of payment surplus implies that the value of the country’s
A
exports exceeds its imports
B
imports exceed its exports
C
exports is equal to its imports
D
terms of trade is constant
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50
The Economic Commission for Africa is an agency of the
A
Organization of African Unity
B
African Development Banks
C
European Union
D
United Nation Organization
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