GK - Economics Test - 04
The annual yield from which of the following Unian Government taxes is the highest?
Carparatian tax and incame tax
Inheritance tax, wealth tax, interest tax and gift tax
Gross National product(GNP) is
the total output of goods and services produced by the country's economy.
the total domestic and foreign output claimed by residents of the country.
the sum of gross domestic product and investment.
national income minus national expenditure
National Income is the
Net National Product at market price
Net National Product at factor cost
Net Domestic Product at market price
Net Domestic Product at factor cost
Ceteris patibus means
other things do not remain the same
constant demand condition
other things being equal
most efficient resource allocation
Marginal revenue will be negative if the elasticity of demand is
A cansumer with a given income will obtain maximum utility when
the marginal utility of each commodity is equal
the marginal utility of each commodity is in the same ratio to its price
the utility derived from, the first unit of each commodity is equal
the utility derived fram each commadity is unequal
The movement of a cansumer's budget line, an an indifference map, ta a parallel position to the right indicates that
the price of a cammadity has fallen
the cansumer taste for a cammadity has changed
the consumer's income has increased
the rate of taxatian has increased
In the Keynes model above, which is independent ?
Consumption and investment
A shift to the left of a demand curve could be due to a .
rise in the price 'Of a complement
rise in the price 'Of a substitute
rise in the cansumer's incame
fall in the price of the good itself
Which of the following could explain why the supply curve far a commodity slopes downwards?
Producers do not like increasing production
Producers have to lower price to induce cansumers to buy more
Casts fall as praductian increases
Diminishing marginal utility is in aperation
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