A. a benefit in kind.
B. a means tested cash benefit
C. a universal (social insurance based) benefit
D. none of the above
Related Mcqs:
- If goods are exported for less than society’s marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from?
A. an import subsidy
B. a quota
C. comparative advantage
D. an export subsidy - When you consume good Q, not only do you benefit form consuming the good but other people benefit from your consumption as well, if firms produce good Q where P = MC, firms will be producing ?
A. less than the efficient level of output
B. more than the efficient level of output
C. so that consumer surplus is zero
D. the efficient level of output - Market price adjusted to consider differences between social cost-benefit and private cost-benefit calculations are ?
A. price distortions
B. consumer surplus
C. shadow prices
D. exchange rates - 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 - 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 - 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% - Mention the name for economic theory that the support of business that allows them to flourish will eventually benefit middle- and lower-income people in the form of increased economic activity and reduced unemployment?
A. End benefit
B. Trickle down
C. Free market
D. Capitalism - Because in-kind transfers are not accounted for in standard measures of income distribution the standard measures of income distribution ?
A. accurately represent the true inequality of living standards
B. understate the inequality of living standards
C. exaggerate the inequality of living standards
D. could exaggerate of understate the inequality of living standards depending on whether the transfers are goods or services. - 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 - A progressive income tax means that those with a higher income pay ?
A. a higher percentage of their income in taxes then low income people
B. a lower percentage of their income in taxes than low income people
C. the same percentage of their income in taxes as low income people all the taxes in the economy.
D. all the taxes in the economy
