A. The taxes earned by the State
B. The sum of all factors of income
C. Personal incomes of all the citizens
D. Surplus of exports over imports
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 - 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 - 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 - Which of the following are low income countries income country ?
A. Canada
B. United States
C. Mexico
D. Australia - 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 - Within the circular flow of income, an increase in domestic income will tend to increase ?
A. exports
B. taxes
C. inventories
D. imports - 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
