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- Question
The largest expenditure component of GDP is
Options- A. Consumption
- B. Net exports
- C. Government spending
- D. Investments
- Correct Answer
- Consumption
- 1. In national income accounting, government purchases include
Options- A. Federal
- B. Local
- C. State
- D. All of the above Discuss
- 2. Which tax uses the same rate for all income levels?
Options- A. Income tax
- B. Proportional tax
- C. Both A & B
- D. Service tax Discuss
- 3. Value added can be determined by Discuss
- 4. A negative supply shock in the short run causes
Options- A. the aggregate supply curve to shift to the left
- B. unemployment to fall
- C. the aggregate supply curve to shift to the right
- D. the price level to fall Discuss
- 5. Unemployment would cause an economy to
Options- A. produce outside its production possibilities frontier
- B. produce inside it's production possibilities frontier
- C. produce on it's production possibilites frontier
- D. All of the above Discuss
- 6. Which taxes are included in GST?
Options- A. Taxes on lottery
- B. Sales/VAT tax
- C. Both A & B
- D. None of the above Discuss
- 7. A large underground economy results in an
Options- A. Understated GDP price index
- B. Understated GDP
- C. Overstated GDP
- D. Overstated GDP price index Discuss
- 8. Macroeconomics is the study of
Options- A. behavior of economy
- B. performance of economy
- C. changes in economy
- D. All of the above Discuss
- 9. The most important determinant of consumer spending is
Options- A. consumer expectations
- B. the level of income
- C. the level of household borrowing
- D. the stock of wealth Discuss
- 10. The federal government debt is equal to the
Options- A. sum of past budget deficits minus the sum of past budget surpluses
- B. annual difference between federal government tax revenues and outlays
- C. obligations of benefits from federal taxes and expenditures
- D. sum of all annual federal government outlays Discuss
Indian Economy problems
Search Results
Correct Answer: All of the above
Explanation:
In national income accounting, government purchases by Local, State and Federal governments.
Correct Answer: Proportional tax
Explanation:
Tax that uses the same rate for all income levels is proportional tax.
Correct Answer: Value added is determined by the difference between the price of product or service and the cost of producing it Added Value = Price that the product or service is sold at - cost of producing the product
Correct Answer: the aggregate supply curve to shift to the left
Explanation:
A negative supply shock in the sho rt run causes the aggregate supply curve to shift to the left.
Correct Answer: produce inside it's production possibilities frontier
Correct Answer: Both A & B
Correct Answer: Overstated GDP
Explanation:
A large underground economy results in an Overstated GDP. The underground economy is also called as Black market. It refers to illegal economic activity. Transactions in the underground economy are illegal either because the good or service being traded is illegal or because an otherwise licit transaction does not comply with government reporting requirements.
Correct Answer: All of the above
Explanation:
Macroeconomics is the study of overall aggregate changes, behavior and performance of the economy of the country i.e, unemployment, GDP, inflation, etc...
Correct Answer: the level of income
Explanation:
The most important determinant of consumer spending is the level of income.
Correct Answer: sum of past budget deficits minus the sum of past budget surpluses
Explanation:
The federal government debt is equal to the sum of past budget deficits minus the sum of past budget surpluses.
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