Q1-LS7-PUBLIC FINANCE UTME TEST

A form of tax that is mildly progressive and regressive is_______

Proportional tax

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Progressive tax

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Regressive tax

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Digressive tax

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Taxes and government expenditures are instruments of____________

Monetary policy

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Tax policy

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Economic policy Economic policy

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Fiscal policy

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An ad valorem tax is imposed on_____?

Exports

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Imports

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The Value of a Commodity

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Special Commodities

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Which of the following is not a direct tax?

Capital gains tax

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Purchase tax

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Personal income tax

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Capital tax

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Which of the following is an indirect tax?

Poll tax

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Personal income tax

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Company tax

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Excise duties

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Which of the following is NOT a source of government revenue?

Grants, aids and borrowing

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Taxes, fees, licenses and fines

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Interest, dividends, profits and earnings

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Personal income, disposable income and transfer earnings

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Which of the following source of income is spectacular only to Government ?

Payment from business transfer

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Bonuses

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Tax

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Wages

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Which of the following budgets will increase government expenditure?

Zero base budget

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Surplus budget

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Deficit budget

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Balanced policy

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A government budget proposing to spend more than its expected revenue in a year will create_______?

Opportunity for combating inflation

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Depression in the economy

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Shortage in money supply

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Opportunity for full employment

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The situation whereby the government of a country spends more than its budgets for a given financial year is known as

Surplus budget

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Deficit budget

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Balanced budget

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Minus budget

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Q1-LS7-PUBLIC FINANCE UTME TEST

Q1-LS7-PUBLIC FINANCE UTME TEST

Thomas Bamidele January 19, 2024

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