JAMB Economics 1981 Question 29

Question 29

Public Finance

Government budget can be described as the sum of

  1. A.indirect tax, direct tax, and loans expected within a financial year
  2. B.planned recurrent expenditure and planned investment expenditure
  3. C.planned capital expenditure for a development plan within a plan period
  4. D.planned expenditure and expected revenue within a financial year
  5. E.planned expenses of all ministries within a financial year.
Show the answer and explanation

Answer: D (planned expenditure and expected revenue within a financial year)

Explanation

A budget is the government's plan of expected revenue and planned spending for one financial year.