The Phillips Curve & Taxation Mcqs
The Phillips Curve & Taxation Mcqs, this topic has 52 mcqs, It takes five to ten minutes to complete this free The Phillips Curve & Taxation Mcqs test. You will see 4 or 5 option of each question. You must choose / think only one option and then press on answer key for check right answer. Practice "The Phillips Curve & Taxation Mcqs" MCQs and share with your friends, brothers, sisters.
The Phillips Curve & Taxation Mcqs (Total Quiz: 52)
MCQ: A progressive tax system is one where ?
- marginal tax rates are high.
- higher income taxpayers pay more taxes than do lower income taxpayers.
- marginal tax rates are low.
- higher income taxpayers pay a greater percentage of their income in taxes than do lower income taxpayers.
D
MCQ: The appropriate tax rate to consider judging the vertical equity of a tax system is the ?
- marginal tax rate
- average tax rate
- horizontal tax rate
- proportional tax rate
B
MCQ: An efficient tax ?
- minimizes the administrative burden form the tax
- does all the things describe in these answers
- raises revenue at the smallest possible cost to taxpayers.
- minimize the deadweight loss from the tax.
B
MCQ: 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?
- the deadweight has demonstrated
- the ability-to-pay principle
- the benefits principle
- horizontal equity
- The administrative burden of a tax.
A
MCQ: When a tax distorts incentives to buyers and sellers so that fewer goods are produced and sold than otherwise the tax has ?
- caused a deadweight loss
- decreased equity
- generated no tax revenue
- increased efficiency
A
MCQ: If a tax on a good is doubled the deadweight loss from the tax ?
- doubles
- stays the same
- increase by a factor of four.
- could rise or fall
C
MCQ: When a tax on a good start small and is gradually increased tax revenue ?
- will fall
- will rise
- will first rise and then fall
- will first fall and then rise
C
MCQ: Since the supply of undeveloped land is relatively inelastic a tax on undeveloped land would generate ?
- a small deadweight loss and the burden of the tax would fall on the renter
- a large deadweight loss and the burden of the tax would fall on the landlora
- a large deadweight loss and the burden of the tax would fall on the renter.
- a small deadweight loss and the burden of the tax would fall on the landlord
D
MCQ: A tax on petrol is likely to ?
- generate a deadweight loss that is unaffected by the time period over which it is measured
- cause a greater deadweight loss in the long run when compared to the short run
- None of these answers
- cause a greater deadweight loss in the short run when compared to the long run.
B
MCQ: Refer to Exhibit 4. Which of the following is true with regard to the burden of the tax in Exhibit 4 ?
- The buyers pay a larger portion of the tax because demand is more inelastic than supply
- The sellers pay a larger portion of the tax because supply is more elastic than demand
- The buyers pay a larger portion of the tax because demand is more elastic then supply
- The sellers pay a larger portion of the tax because supply is more inelastic than demand
D