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WAEC Economics 2003 Question 42

Question 42

Public Finance

Governments of West African countries levy taxes to

  1. A.prevent prices from falling
  2. B.make people richer
  3. C.limit the number of banks
  4. D.finance government projects
Show the answer and explanation

Answer: D (finance government projects)

Explanation

The main purpose of taxation is to raise revenue to finance government spending.