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

Related Mcqs:

1. 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

2. 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%

3. If people with higher incomes pay a higher percentage of income in taxes, the income tax structure is ?

   A. progressive
   B. regressive
   C. value added taxes (VAT)
   D. excise taxes

4. Which of the following is true with regard to a tax on labor income? Taxes on labor income tend to encourage ?

   A. the unscrupulous to enter the underground economy
   B. the elderly to retire early.
   C. all the things described in these answers.
   D. second earners to stay home.
   E. workers to work fewer hours

5. 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

6. Except for taxes to offset ______ taxes are ______?

   A. imperfect competition popular
   B. externalities , distortionary
   C. inequality , a first best option
   D. poor health, unnecessary

7. If the government increases investment tax credits and reduces taxes on the return to saving at the same time ?

   A. the real interest rate should fall
   B. the real interest rate should rise
   C. the impact on the real interest rate is indeterminate
   D. the real interest rate should not change

8. A tax whose burden expressed as a percentage of income, falls as income increases is a ?

   A. benefits received tax
   B. progressive tax
   C. regressive tax
   D. proportional tax

9. A progressive income tax means that those with a higher income pay ?

   A. a higher percentage of their income in taxes then low income people
   B. a lower percentage of their income in taxes than low income people
   C. the same percentage of their income in taxes as low income people all the taxes in the economy.
   D. all the taxes in the economy

10. 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