Business Economics Macro MCQs

M

Mr. Dubey • 51.43K Points
Coach

Q 11. Which one of the following economists introduced the principle of “Maximum Social Advantage”?

(A) Alfred Marshall
(B) John Maynard Keynes
(C) Karl Marx
(D) Hugh Dalton
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M

Mr. Dubey • 51.43K Points
Coach

Q 12. Maximum Social Advantage is achieved,

(A) at the point where the marginal social benefit of public expenditure and the marginal social sacrifice of taxation are equated
(B) at the point where the marginal social benefit of public expenditure is higher than the marginal social sacrifice of taxation
(C) at the point where the marginal social benefit of public expenditure is lower than the marginal social sacrifice of taxation
(D) at the point where the marginal social benefit of public expenditure and the marginal social sacrifice of taxation are zero
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M

Mr. Dubey • 51.43K Points
Coach

Q 13. The difference between total expenditure and total receipts is

(A) Fiscal deficit
(B) Budget deficit
(C) Primary deficit
(D) Revenue deficit
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M

Mr. Dubey • 51.43K Points
Coach

Q 14. The difference between revenue expenditure and revenue receipts is

(A) Revenue deficit
(B) Fiscal deficit
(C) Budget deficit
(D) Primary deficit
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M

Mr. Dubey • 51.43K Points
Coach

Q 15. The most important source of revenue to the states is

(A) Sales tax
(B) Service tax
(C) Excise duty
(D) None of the above
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M

Mr. Dubey • 51.43K Points
Coach

Q 16. The tax on net income of companies is

(A) Personal income tax
(B) Interest tax
(C) Wealth tax
(D) Corporate tax
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M

Mr. Dubey • 51.43K Points
Coach

Q 17. The tax levied by the union government on income of individuals is known as

(A) Personal income tax
(B) Interest tax
(C) Wealth tax
(D) Corporation tax
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M

Mr. Dubey • 51.43K Points
Coach

Q 18. Which of the following is not a union tax?

(A) Taxes on railway freights and fares
(B) Stamp duties on financial documents
(C) Tolls
(D) A and b only
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M

Mr. Dubey • 51.43K Points
Coach

Q 19. Which of the following is a union tax?

(A) Corporation tax
(B) Taxes on agricultural income
(C) Capitation taxes
(D) Land revenues
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M

Mr. Dubey • 51.43K Points
Coach

Q 20. Keynes assumed the presence of --------- economy for the fundamental law of consumption

(A) Capitalistic
(B) Socialistic
(C) Planned
(D) None of the above
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