2022/23 FIRST SERIES(JAN/FEB) PRIVATE WASSCE(GCE) ECONOMICS,, SURE,,EXPO,,RUNS,,,,HELP,,,LEAKAGE,, VERIFIED AND CONFIRMED QUESTIONS AND ANSWERS BY COOLBOY FOR ALL COUNTRIES SUCH AS GHANA,,, SIERRA LEONE,,, GAMBIA AND NIGERIA

OBJECTIVE

*Economic🌀🌀*

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Completed

THEORY

SOLUTIONS

 

(6a)

Fiscal policy are measures employed by governments to stabilize the economy, specifically by manipulating the levels and allocations of taxes and government expenditures. 

(6b). 

[Pick any three(3)]

(i) Generate tax revenue for a government.

(ii) Discourage consumption of 'harmful' products.

(iii) Encourage consumption of 'good' products.

(iv) Improvement of the allocation of resources

(6c)

[Pick any three]

(i) Price Stabilization:

Public finance maintains stability in the

prices of goods and services thereby,

preventing constant fluctuations and

inflation and deflation that tend to

destabilize the economy of a country

(ii) Equitable Distribution of Wealth:

Public finance is also concerned with

equitable distribution of income and

wealth among individuals and various

sections of the country.

(iii) Satisfaction of Needs:

The satisfaction of collective needs is

another main objective of public finance.

(iv) Allocation of Resources:

Public finance performs the function of

allocating resources among public and

private sectors.

(iv) Provision of Full Employment:

Provision of full employment

opportunities to citizens of a country is

another aim of public finance.