Discussion
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- Question
In ____________, the short run equilibrium results in quantity produced being lesser and prices being higher compared to perfect competition.
Options- A. Monopsony
- B. Monopoly
- C. Oligopoly
- D. Monopolistic Competition
- Correct Answer
- Monopolistic Competition
- 1. Which tax causes a burden on the poorer section of the society?
Options- A. Direct Tax
- B. Indirect Tax
- C. Both Direct and Indirect Tax
- D. None of these Discuss
- 2. What does indifference curve represent?
Options- A. Levels of Income and Capital
- B. Satisfaction derived from two goods
- C. Income from two businesses
- D. Relationship between expenditure and savings Discuss
- 3. Which of the following is called GDP Deflator?
Options- A. Ratio of nominal to real GDP
- B. Ratio of nominal to real GNP
- C. Ratio of nominal to real CPI
- D. Ratio of real to nominal GNP Discuss
- 4. Which of the following equation is/are INCORRECT? I. NI = NDP + Net Foreign Income II. GNP = GDP + Net Foreign Income III. NDP = GNP ? Depreciation
Options- A. Only (I) and (II)
- B. Only (III)
- C. Only (II) and (III)
- D. Only (II) Discuss
- 5. Goods and Services Tax likely to be levied in India is not a
Options- A. gross value tax
- B. value-added tax
- C. consumption tax
- D. destination-based tax Discuss
- 6. The average product curve are inverse ____ shaped.
Options- A. X
- B. W
- C. V
- D. U Discuss
- 7. In which of the following types of economy are the factors of production owned individually?
Options- A. Capitalist
- B. Socialist
- C. Mixed
- D. Both Capitalist and Socialist Discuss
- 8. India was able to achieve the fiscal deficit target for the Financial Year 2016-17. It was how much percent of GDP?
Options- A. 3.50%
- B. 4.20%
- C. 3.00%
- D. 2.50% Discuss
- 9. If demand curve for house cleaning services is D = 45000 - 21P and supply curve is S = 15000 + 9P, find the equilibrium Quantity?
Options- A. 12000 units
- B. 6000 units
- C. 24000 units
- D. 30000 units Discuss
- 10. Goods whose demand is proportional to price are called
Options- A. inferior goods
- B. Veblen goods
- C. normal goods
- D. exclusive goods Discuss
Indian Economy problems
Search Results
Correct Answer: Indirect Tax
Correct Answer: Satisfaction derived from two goods
Correct Answer: Ratio of nominal to real GDP
Correct Answer: Only (III)
Correct Answer: gross value tax
Explanation:
GST is a destination-based tax, it means end users consuming any goods or services is liable to pay the Goods and Services Tax. The tax is collected by the State in which the goods or services are consumed and not by the state in which goods are manufactured and If there are exports, the seller of the goods or services is exempted from paying the tax. GST is a consumption-based tax, it means the state where the goods were consumed will receive GST and where goods were sold should not get any taxes.GST is a value added tax as it is based on the increase in value of a product or service at each stage of production or distribution.GST is not gross value tax.
Correct Answer: U
Correct Answer: Capitalist
Correct Answer: 3.50%
Correct Answer: 24000 units
Correct Answer: Veblen goods
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