Public Finance Jamb Economics Past Questions
Question 1
The diagram above explains the effect of government's imposition of an indirect tax on a good characterized by zero price elasticity of demand. The total tax revenue is represented by
- A. \(P_1EHP_o\)
- B. \(P_oHQ_oO\)
- C. \(P_1EQ_oOO\)
- D. \(P_1ED_1P_o\)
Question 2
In national income accounts, an item counted as part of government spending is
- A. salaries and wages
- B. pension
- C. scholarship
- D. social welfare
Question 3
The use of government revenue and expenditure to achieve set objectives is known as
- A. budget
- B. fiscal policy
- C. revenue allocation
- D. monetary policy
Question 4
The objective of public finance is to promote?
- A. full employment, national income and price stability
- B. government revenue drive and expenditure to as high a level as possible
- C. the expansion of government social services
- D. government revenue drive and minimize government expenditure
Question 5
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
