The main feature of regressive taxation is that its rate

A. is higher when income is higher

B. is equal tax for all categories of people

C. remains constant when income increases

D. reduces when income increses

Which of the following is an item of government recurrent expenditure?

A. Road construction

B. Port facilities

C. Wages and Salaries

D. Telecommunication projects

Which of the following is an item of government recurrent expenditure?

A. Road construction

B. Port facilities

C. Wages and Salaries

D. Telecommunication projects

Deficit budget means that government’s

A. Government expenditure is equal to its revenue

B. Planned expenditure is more than the estimated income

C. Planned income and expenditure target cannot be achieved

D. Expenditure is less than estimated revenue

The most unique quality of money is its

A. Relative scarcity

B. Divisibility

C. Durability

D. General acceptability

Abstention from consumption which enables capital to be produced is called

A. Savings

B. Production

C. Accumulation

D. Opportunity cost

Which of the following will occur when the market is unstable?

A. Price will fluctuate

B. Demand will remain static

C. Unemployment will surely fall

D. Price will remain static

Shares and stocks can be bought in the

A. Commodity market

B. Stock exchange

C. Money market

D. Open market

Inflation can best be checked by

A. allowing supply to remain constant

B. decreasing supply and incresing wages

C. increasing supply and holding wages constant

D. decreasing supply and wages

Foreign exchange control in most West African countries is is enforced by the

A. development banks

B. Merchant banks

C. ministry of economic planning

D. Central banks