Economics MCQs

Page No. 358

A tax of 20 rupees per unit of imported cheese would be an example of a (an) ?.


aCompound tariff

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bEffective tariff

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cAd valorem tariff

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dSpecific tariff

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View Answer Specific tariff

A progressive tax system is one where ?


amarginal tax rates are high.

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b higher income taxpayers pay more taxes than do lower income taxpayers.

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c marginal tax rates are low.

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dhigher income taxpayers pay a greater percentage of their income in taxes than do lower income taxpayers.

✓


View Answer higher income taxpayers pay a greater percentage of their income in taxes than do lower income taxpayers.

The appropriate tax rate to consider judging the vertical equity of a tax system is the ?


a marginal tax rate

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baverage tax rate

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chorizontal tax rate

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dproportional tax rate

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View Answer average tax rate

An efficient tax ?


a minimizes the administrative burden form the tax

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bdoes all the things describe in these answers

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c raises revenue at the smallest possible cost to taxpayers.

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dminimize the deadweight loss from the tax.

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View Answer does all the things describe in these answers

Sana values a pair of blue jeans at Rs400. If the price is Rs350 Sana buys the jeans and generates consumer surplus of Rs50 Suppose a tax is placed on blue jeans that causes the price of blue jeans to rise to Rs450 Now sana chooses not to buy a pair of?


athe deadweight has demonstrated

✓


bthe ability-to-pay principle

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c the benefits principle

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d horizontal equity

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View Answer the deadweight has demonstrated

When a tax distorts incentives to buyers and sellers so that fewer goods are produced and sold than otherwise the tax has ?


acaused a deadweight loss

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b decreased equity

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cgenerated no tax revenue

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dincreased efficiency

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View Answer caused a deadweight loss

If a tax on a good is doubled the deadweight loss from the tax ?


adoubles

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bstays the same

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c increase by a factor of four.

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dcould rise or fall

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View Answer increase by a factor of four.

When a tax on a good start small and is gradually increased tax revenue ?


a will fall

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bwill rise

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cwill first rise and then fall

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dwill first fall and then rise

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View Answer will first rise and then fall

Since the supply of undeveloped land is relatively inelastic a tax on undeveloped land would generate ?


a a small deadweight loss and the burden of the tax would fall on the renter

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ba large deadweight loss and the burden of the tax would fall on the landlora

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ca large deadweight loss and the burden of the tax would fall on the renter.

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da small deadweight loss and the burden of the tax would fall on the landlord

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View Answer a small deadweight loss and the burden of the tax would fall on the landlord

A tax on petrol is likely to ?


agenerate a deadweight loss that is unaffected by the time period over which it is measured

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b cause a greater deadweight loss in the long run when compared to the short run

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cNone of these answers

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d cause a greater deadweight loss in the short run when compared to the long run.

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View Answer cause a greater deadweight loss in the long run when compared to the short run

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