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

Related Mcqs:

1. If the marginal rate of tax is 40% and consumers income increase from Rs10,000 to Rs12,000 ?

   A. The amount of tax paid will increase by Rs4,800
   B. The amount of tax paid will increase by Rs4,000
   C. The amount of tax paid will increase by Rs 800
   D. The total tax paid will be Rs4,800

2. Naila owns a small pottery factory. She can make 1000 pieces of pottery per year and sell them for Rs 100 each. It costs Naila Rs 20,000 for the raw materials to produce the 1,000 pieces of pottery She has invested Rs100,000 in her factory and equipment: Rs50,000 from her savings and Rs50,000 borrowed at 10 per cent. (Assume that she could have loaned her money out at 10 her per cent, too) Naila can work at a competing pottery factory for Rs40,000 per year. The accounting profit at Naila’s pottery factory is ?

   A. Rs30,000
   B. Rs35,000
   C. Rs75,000
   D. Rs70,000

3. Naila owns a small pottery factory. She can make 1000 pieces of pottery per year and sell them for Rs 100 each. It costs Naila Rs 20,000 for the raw materials to produce the 1,000 pieces of pottery She has invested Rs100,000 in her factory and equipment: Rs50,000 from her savings and Rs50,000 borrowed at 10 per cent. (Assume that she could have loaned her money out at 10 her per cent, too) Naila can work at a competing pottery factory for Rs40,000 per year. The economics profit at Naila’s pottery factory is ?

   A. Rs80,000
   B. Rs30,000
   C. Rs75,000
   D. Rs70,000

4. 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%

5. Assume that the real income of developing Island increases from $120,000 to $160,000 from 2005 to 2006 while its population expands from 1000 to 1100 during the same period Real income per capita has increased by about ?

   A. $145
   B. $40,000
   C. $25
   D. $100

6. Average income increase from Rs20,000 p.a to Rs 22,000 p.a Quantity demanded per year increases 5000 to 6000 units. Which of the following is correct ?

   A. Demand is price inelastic
   B. The good is inferior
   C. Income elasticity is -2
   D. The product is normal

7. Suppose that 40 percent of the voting population wish to spent Rs1,000 for artwork in City Hall, 25 percent wish to spent Rs20,000 and 35 percent wish to spend Rs 22,000 What is the median preferred outcome, the average preferred outcome and the modal preferred outcome ?

   A. Rs20,000; Rs20,000; Rs22,000
   B. Rs1,000; Rs14,333; Rs1,000
   C. Rs20,000; Rs13,100; Rs1,000
   D. Rs1,000; Rs20,000; Rs22,000

8. uppose a consumer must choose between the consumption of sandwiches and pizza. If we measure the quantity of pizza on the horizontal axis and the quantity of sandwiches on the vertical axis and if the price of a pizza is Rs10 and the price of a sandwich is Rs5, then the slope of the budget constraint is ?

   A. 2
   B. 10
   C. 1/2
   D. 5

9. Suppose your income rises from Rs19,000 to Rs31,000 while the CPI rises from 122 to 169 Your standard of living has likely ?

   A. fallen
   B. You can’t tell without knowing the base year
   C. risen
   D. stayed the same

10. 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