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.Management Sciences
Category: Economics Mcqs
Where a tax can be shifted, the incidence depends on ?
A. Whether there is perfect or imperfect information
B. elasticities of demand and supply
C. how many producers there are:
D. who is legally obliged to pay the tax
Which of the following was a socialist country ?
I- Holland
II- Soviet Union
III- China
IV- India
A. I and II only
B. II and III only
C. III and IV only
D. I and IV only
Potential GDP is the level of aggregate output ?
A. that can be produced if structural unemployment is zero
B. that can be produced at a zero-unemployment rate
C. that can be sustained in the long run without inflation
D. that can be sustained in the long run, if the inflation rate is zero
A scattered collection of people who share a common interest or a concern about an issue are a (n).
A. group
B. Crowd
C. public
D. audience
If marginal costs equal average total costs ?
A. average total cost is falling
B. average total cost is raising
C. average total cost is maximized
D. average total cost is minimized
If people are risk averse, then ?
A. None of these answers are true
B. All of these answers are true
C. They dislike bad things more than the like comparable good things
D. The utility they would lose from losing a Rs50 bet would exceed the utility they would gain from winning a Rs 50 bet
Their utility function exhibit the property of diminishing marginal utility of wealth
What is inflation ?
A. Increase in the amount of circulating money
B. Lowering of purchasing power
C. Decrease in the amount of circulation money
D. None of these
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
The synchronized application of capital to a wide range of different industries is called __________ by its advocates?
A. balanced growth
B. capitalization
C. elasticity of capital
D. indivisibilities
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