Economics

Question 1

1The body that collects taxes in Ghana is the

Easy

A. Controller and Accountant-General B. Ghana Revenue Authority C. Ghana Statistical Service D. Bank of Ghana

Question 2

2Government expenditure on roads and schools is

Easy

A. capital expenditure B. transfer payments C. recurrent expenditure D. debt servicing

Question 3

3A government running a deficit to boost demand in a recession is following

Hard

A. free trade B. monetary tightening C. contractionary policy D. expansionary fiscal policy

Question 4

4Salaries of civil servants are

Easy

A. investment B. revenue C. capital expenditure D. recurrent expenditure

Question 5

5The national budget in Ghana is presented to Parliament by the

Easy

A. President only B. Minister for Finance C. Speaker D. Chief Justice

Question 6

6Fiscal policy uses

Hard

A. government spending and taxation B. money printing only C. exchange rates only D. interest rates only

Question 7

7When government spending exceeds revenue, there is a

Easy

A. budget deficit B. balanced budget C. trade surplus D. budget surplus

Question 8

8In Ghana, the annual budget is presented to Parliament by the

Easy

A. Governor of the Bank of Ghana B. Chief Justice C. Speaker of Parliament D. Minister for Finance

Question 9

9VAT is an example of

Easy

A. a direct tax B. a grant C. a subsidy D. an indirect tax

Question 10

10When government spending is greater than its revenue, there is a

Easy

A. balanced budget B. budget deficit C. budget surplus D. trade surplus