The low-income economies generally have the following except ?

Related Mcqs:

1. 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

2. 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

3. All of the following are low income countries except ?

   A. United Arab Emirates
   B. Armenia
   C. Sudan
   D. Bangladesh

4. Which of the following are low income countries income country ?

   A. Canada
   B. United States
   C. Mexico
   D. Australia

5. The growth rates of economies tend to converge because ________ is easier when capital per worker is low and because of?

   A. capital-widening technical innovation
   B. capital-widening Catch-up in technology
   C. capital-deepening technical innovation
   D. capital-deepening, catch-up in technology

6. 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%

7. Which of the following statement is true about low-income countries ?

   A. less than 10% of the labor force is in agriculture
   B. the average agriculture family produces surplus large enough only to supply small non-agriculture population
   C. One-third of the labor force produce food
   D. share of labor force is about 30%

8. Concerning a government’s trade policy, all the following generally apply except ?

   A. economic downturn and recession generally result in greater protectionism
   B. because domestic consumers outnumber domestic producer’s policy markers usually enact Free-trade policies to satisfy the consumer majority:
   C. When domestic exporting companies are organized, policy tends to favor freer trade
   D. Policy tends to favor freer trade in countries whose imports are inputs into critical industries

9. All of the following are high income countries except ?

   A. Singapore
   B. U.K
   C. Japan
   D. South Africa

10. When capital is owned by the firm as opposed to being directly owned by household capital income may take any of the following forms except ?

    A. interest
    B. dividends
    C. increases in stocks of goods
    D. retained earnings