From the sale of capital assets tax is levied on profits. What this tax is called ?

Related Mcqs:

1. What is called the tax that is levied on retail price of merchandise collected by retailer ?

   A. Sales Tax
   B. General Tax
   C. Local Tax
   D. Gross Tax

2. 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

3. The property tax wealth tax inheritance tax and income taxes such as persona and corporate taxes are ?

   A. indirect taxes
   B. direct taxes
   C. inelastic
   D. value-added tax

4. 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

5. Suppose an oligopolist individually maximizes its profits. When calculating profits, if the output effect exceeds the price effect on the marginal unit of production, then the oligopolist ?

   A. Should produce more units
   B. has maximized profits.
   C. is in a Nash equilibrium
   D. Should produce fewer units
   E. should exit the industry.

6. Government levy tax on imports and exports What this tax is called ?

   A. Custom
   B. Exercise Duty
   C. Tariff
   D. Freight

7. A tax which is paid by the person on whom the tax is incident is called a ?

   A. Local tax
   B. Indirect tax
   C. Direct tax
   D. Rate

8. Countervailing duties levied by the U.S government are imposed to offset ?

   A. foreign dumping of goods in the U.S
   B. subsidies granted to foreign firms that export to the U.S
   C. buy national policies of foreign government
   D. stringent environmental regulations of foreign government s

9. From the perspective of the American public as a whole, export subsidies levied by overseas governments on goods sold to the United States ?

   A. help more than they hurt
   B. hurt more then they help
   C. are equivalent to an import quota
   D. are equivalent to an export quota

10. Export subsidies levied by foreign governments on products in which the Pakistan the comparative disadvantage ?

    A. lower the welfare of all Pakistanis
    B. lead to increases in Pakistani consumer surplus
    C. encourage Pakistan’s production of competing goods
    D. encourage Pakistani workers to demand higher wages