A. All wealth of a nation
B. Annual Income of the central government
C. All income of the people on a year
D. Income derived from taxes by the central government
Related Mcqs:
- Gross National income is always more than Net National income because it includes ?
A. Foreign income
B. Capital consumption allowance
C. Indirect taxes
D. Direct taxes - 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% - The functional distribution of income shows how national income is divided between ?
A. employees
B. the population
C. the factors of production
D. the working population - The product cycle theory of trade is essentially a ?
A. static, short run trade theory
B. dynamic long run trade theory
C. zero-sum theory of trade
D. negative-sum theory of trade - A tariff-rate quota is essentially a ?
A. two tier tariff applied to a country’s imports
B. three-tier tariff applied to a country’s imports
C. two tier quota applied to a county’s exports
D. three tier quota applied to a country’s exports - A ________ is any activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything?
A. demand
B. basic staple
C. product
D. service - In food demand growth equation D = Φ + a E, a is the income elasticity of demand for food E is the per capita income growth and Φ is ?
A. Poverty rates
B. food security index
C. change in the quantity of food demanded per capita
D. population growth - 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
