Term the average income of the people of a country during a year ?

Related Mcqs:

1. When an increase in government purchases increases the income of some people, and those people spend some of that increase in income on additional consumer goods, we have seen a demonstration of ?

   A. The multiplier effects
   B. supply side economics
   C. None of these answers
   D. The crowding out effect

2. Because people’s income vary other the life cycle and because there are transitory shocks to people’s incomes the standard measures of income distribution ?

   A. exaggerate the inequality of living standards
   B. could exaggerate or understate the inequality of living standards depending on whether the transitory shocks are positive or negative
   C. understate the inequality of living standards
   D. accurately represent the true inequality of living standards

3. Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land Note that wages are the returns to labor and rents are the returns to land According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B: A. wages and rents should fall in Country A B. wages and rents should rise in Country A C. wages should rise and rents should fall in Country A D. wages should fall and rents should raise in Country A ?

   XA. wages and rents should fall in Country A
   B. wages and rents should rise in Country A
   C. wages should rise and rents should fall in Country A
   D. wages should fall and rents should raise in Country A

4. Term a tax that is levied by a country of source on income paid, usually on dividends remitted to the home country of the firm operating in a foreign country?

   A. Wealth tax
   B. Withholding tax
   C. Income tax
   D. None of these

5. If you income during one year is Rs10,000 and the following year it is Rs12,000 then it has grown by ________________?

   A. 20%
   B. 2%
   C. 12%
   D. 16%

6. Imagine there is no tax on income up to Rs 1000 after that there is a tax of 505 what is the average tax rate on an income of Rs 20,000 ?

   A. Rs 50000
   B. 20%
   C. 25%
   D. Rs 10000

7. The World Bank’s GNP per capita classification for low income middle income and high income countries respectively is ?

   A. less than $900, $900-$9000 and more than $9000
   B. less than $5000, $5000-$15000 and more than $15000
   C. less than $100, $100-$1000 and more than $1000
   D. less than $5000, $5000-$150000 and more than $150000

8. A tax for which high income taxpayers pay a smaller fraction of their income than do low income taxpayers is known as ?

   A. a proportional tax
   B. a regressive tax
   C. an equitable tax
   D. a progressive tax

9. If the income tax rate changes from 30% to 40% on income over Rs30,000 and a person’s income is Rs 31,000 then her marginal tax rate is ?

   A. 30%
   B. 10%
   C. 70%
   D. 40%

10. -7-+47-+45-+-+Since people respond to incentives, we would expect that if the average salary of accountants increases by 50% while the average salary of teachers increase by 20% then ?

    A. Fewer students will take degree courses in education and more will take accounting courses.
    B. fewer students will take degree courses in education and more will take accounting courses
    C. fewer students will attend university
    D. None of these