A perfect example of a public good is
Air
Education
Water
Transport
Correct answer is A
A public good is a commodity or service that is provided without profit to all members of a society, either by the government or by a private individual or organization.
The main objectives of public expenditure does NOT include
Stabilization of national economy
Achievement of a more equitable income distribution
Meeting the social needs of the people
Revenue sharing and profit maximization
Correct answer is D
No explanation has been provided for this answer.
The three groups of government revenue are
Investment income, direct tax and indirect tax
Imports duties, excise tax and export duties
Company tax, personal income tax and import duties
Company tax, import duties and excise tax
Correct answer is A
No explanation has been provided for this answer.
Government intervention in an economy is often justified on the ground that
Wants are unlimited while resources are scarce
Productivity is higher in the public than in the private sector
Free market may not work, or produce desirable results
Opportunity cost of government expenditure is zero
Correct answer is A
No explanation has been provided for this answer.
A tax is defined as regressive if
The proportion of income paid as tax increase as the income level increases
All income group pay the same percentage of their income as tax
The proportion if income taen by the tax falls as income increases
The proportion of income taken by the tax is a fixed nominal amount of income for all income groups
Correct answer is C
No explanation has been provided for this answer.