Which of the following is a direct tax?

A. import duties

B. purchase tax

C. export duties

D. personal income tax

The tax whose rate increase as the level of income increases is known as

A. regressive tax

B. proportional tax

C. progressive tax

D. company tax

Public expenditure on on education and health is known as expenditure on

A. general services

B. social services

C. commercial services

D. economic services

Budget deficit can be financed by

A. reducing the level of taxation

B. printing more money

C. lending to financial institution

D. employing more workers

A major problem facing the Economic Community of West African States (ECOWAS) as an economic integration , is the

A. increasing population

B. willingness of members to co-operate

C. geographical contiguity

D. weal trade relation

In a socialist economy, the means of productions owned and controlled by the

A. state

B. rich

C. entreprenuer

D. traders

It is necessary to estimate the national income of of a country because it

A. indicates the overrall performance of the economy

B. ensure equitable distribution of wealth

C. assits investors in identifying profitable ventures

D. enables governments to conserve national resources

The Organization of Petroleum Exporting Countries (OPEC) is an example of a

A. perfect competition

B. monopsony

C. duopoly

D. cartel