Buoyancy of a tax is defined as - (1) percentage increase in tax revenue/ percentage increase in tax base (2) increase in tax revenue/ percentage increase in tax coverage (3) increase in tax revenue/increase in tax base (4) percentage increase in tax revenue/ increase in tax coverage

Buoyancy of a tax is defined as - (1) percentage increase in tax revenue/ percentage increase in tax base (2) increase in tax revenue/ percentage increase in tax coverage (3) increase in tax revenue/increase in tax base (4) percentage increase in tax revenue/ increase in tax coverage
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(3) increase in tax revenue/increase in tax base Explanation: Buoyancy means the growth/increase in tax collections. This is in line with the GDP growth within the economy, the industry profile and the tax structure administered by the government. Tax buoyancy measures the total response of tax revenues to changes in national income. Total response takes into account both increases in income and discretionary changes (i.e., tax rates and bases) made by tax authorities in the system. The responsiveness of tax revenues to discretionary changes in the tax rate and in the tax base in relation to the GDP is termed the buoyancy of the tax system.
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Buoyancy of a tax is defined as (1) percentage increase in tax revenue/percentage increase in tax base (2) increase in tax revenue/ percentage increase in tax coverage (3) increase in tax revenue/increase in tax base (4) percentage increase in tax revenue/ increase in tax coverage

Description : Buoyancy of a tax is defined as (1) percentage increase in tax revenue/percentage increase in tax base (2) increase in tax revenue/ percentage increase in tax coverage (3) increase in tax revenue/increase in tax base (4) percentage increase in tax revenue/ increase in tax coverage

Last Answer :  increase in tax revenue/increase in tax base

The effective rate of protection (a). distinguishes between tariffs that are effective and those that are ineffective (b). is the minimum level at which a tariff becomes effective in limiting imports (c). shows how effective a tariff is in raising revenue for the government (d). shows the increase in value added for domestic production that a particular tariff structure makes possible, in percentage terms

Description : The effective rate of protection (a). distinguishes between tariffs that are effective and those that are ineffective (b). is the minimum level at which a tariff becomes effective in ... in value added for domestic production that a particular tariff structure makes possible, in percentage terms

Last Answer : d). shows the increase in value added for domestic production that a particular tariff structure makes possible, in percentage terms

The major objective of monetary policy is to - (1) increase government's tax revenue (2) revamp the Public Distribution System (3) Promote economic growth with price stability (4) weed out corruption in the economy

Description : The major objective of monetary policy is to - (1) increase government's tax revenue (2) revamp the Public Distribution System (3) Promote economic growth with price stability (4) weed out corruption in the economy

Last Answer : (3) Promote economic growth with price stability Explanation: The main objective of monetary policy is to control the supply of money, often targeting an inflation rate or interest rate ... usually to contribute to lower unemployment, and to maintain predictable exchange rates with other currencies.

The major objective of monetary policy is to (1) increase government’s tax revenue (2) revamp the Public Distribution System (3) Promote economic growth with price stability (4) weed out corruption in the economy

Description : The major objective of monetary policy is to (1) increase government’s tax revenue (2) revamp the Public Distribution System (3) Promote economic growth with price stability (4) weed out corruption in the economy 

Last Answer : Promote economic growth with price stability

The rate of tax increase as the amount of the Lax base Increases is called- (1) Proportional tax (2) Progressive tax (3) Regressive tax (4) Degressive tax

Description : The rate of tax increase as the amount of the Lax base Increases is called- (1) Proportional tax (2) Progressive tax (3) Regressive tax (4) Degressive tax

Last Answer : (2) Progressive tax Explanation: A progressive tax is a tax in which the tax rate increases as the taxable amount increases. The term "progressive" refers to the way the tax rate progresses from low to ... with the result that a taxpayer's average tax rate is less than the person's marginal tax rate

The rate of tax increase as the amount of the tax base increases is called (1) Proportional tax (2) Progressive tax (3) Regressive tax (4) Degressive tax

Description : The rate of tax increase as the amount of the tax base increases is called (1) Proportional tax (2) Progressive tax (3) Regressive tax (4) Degressive tax

Last Answer : Progressive tax 

The difference between the GNP and the NNP is equal to the - (1) consumer expenditure on durable goods (2) direct tax revenue (3) indirect tax revenue (4) capital depreciation

Description : The difference between the GNP and the NNP is equal to the - (1) consumer expenditure on durable goods (2) direct tax revenue (3) indirect tax revenue (4) capital depreciation

Last Answer : (4) capital depreciation Explanation: Depreciation refers to two very different but related concepts: the decrease in value of assets (fair value depreciation), and the allocation of the cost of ... equal to capital depreciation. It is the wearing out, breaking down, or technological obsolescence.

Which one of the following taxes is collected and utilized by the State Governments? (1) Personal income tax (2) Corporation tax (3) Land revenue (4) Custom duties

Description : Which one of the following taxes is collected and utilized by the State Governments? (1) Personal income tax (2) Corporation tax (3) Land revenue (4) Custom duties

Last Answer : (3) Land revenue Explanation: The Constitution allocates the taxation of agricultural income to states. Lan revenue is a major source of revenue for states in India. For purpose of ... Commissioner, also known as Collector indicating his responsibility for the realization of all Government revenues.

Agricultural income tax is a source of revenue to - (1) Central Government (2) State Government (3) Local Administration (4) Centre and State Governments

Description : Agricultural income tax is a source of revenue to - (1) Central Government (2) State Government (3) Local Administration (4) Centre and State Governments

Last Answer : (2) State Government Explanation: The Constitution of India allocates the taxation of agricultural income to states. Land revenue is a major source of revenue for states in India

Which one of the following is not included in current revenue of the Union Government? (1) Tax revenue (2) Non-tax revenue (3) Loans (4) interest payments

Description : Which one of the following is not included in current revenue of the Union Government? (1) Tax revenue (2) Non-tax revenue (3) Loans (4) interest payments

Last Answer : (3) Loans Explanation: Loans are not included in the current revenue of the Union Government.

The tax levied on gross sales revenue from business transactions is called - (1) Turnover Tax (2) Sales Tax (3) Capital Gains Tax (4) Corporation Tax

Description : The tax levied on gross sales revenue from business transactions is called - (1) Turnover Tax (2) Sales Tax (3) Capital Gains Tax (4) Corporation Tax

Last Answer : (1) Turnover Tax Explanation: A turnover tax is similar to a sales tax or a VAT, with the difference that it taxes intermediate and possibly capital goods. It is charged on gross ... turnover tax is levied on all intermediate transactions between businesses leading to and including the final sale.

The duties levied on alcoholic liquors, narcotic drugs and opium come under— (1) Central Excise Duty (2) Land Revenue (3) State Excise Duty (4) General Sales Tax

Description : The duties levied on alcoholic liquors, narcotic drugs and opium come under— (1) Central Excise Duty (2) Land Revenue (3) State Excise Duty (4) General Sales Tax

Last Answer : (3) State Excise Duty Explanation: An excise or excise tax (sometimes called an excise duty) is a type of tax charged on goods produced within the country (as opposed to customs ... paper, drugs and pharmaceuticals, alcoholic liquor, water filtration and purification devices, pan masala, etc.

If the main objective of the government is to raise revenue, it should tax commodities with (1) high elasticity of demand (2) low elasticity of supply (3) low elasticity of demand (4) high income elasticity of demand

Description : If the main objective of the government is to raise revenue, it should tax commodities with (1) high elasticity of demand (2) low elasticity of supply (3) low elasticity of demand (4) high income elasticity of demand

Last Answer : (3) low elasticity of demand Explanation: The Ramsey rule states that commodities with low elasticities of demand should be taxed at higher rates than commodities with high elasticities of demand. ... the Ramsey rule may result in a regressive taxation scheme society may view as inequitable.

1. The largest source of tax revenue for the federal government is: a. the personal income taxb. the social security taxc. the property taxd. the sales tax

Description : 1. The largest source of tax revenue for the federal government is: a. the personal income tax b. the social security tax c. the property tax d. the sales tax

Last Answer : a. the personal income tax

Laffer curve is related to (a) Tax rate and tax revenue. (b) Aggregate tax and aggregate non-tax revenue. (c) Total tax burden and total payment burden. (d) Total income and total expenditure.

Description : Laffer curve is related to (a) Tax rate and tax revenue. (b) Aggregate tax and aggregate non-tax revenue. (c) Total tax burden and total payment burden. (d) Total income and total expenditure.

Last Answer : (c) Total tax burden and total payment burden.

Okun’s law shows the relationship between the following : (a) Unemployment and Growth (b) Employment and Growth (c) Tax rate and Tax revenue (d) Inflation and Employment

Description : Okun’s law shows the relationship between the following : (a) Unemployment and Growth (b) Employment and Growth (c) Tax rate and Tax revenue (d) Inflation and Employment

Last Answer : (a) Unemployment and Growth

The duties levied on alcoholic liquors, narcotic drugs and opium come under— (1) Central Excise Duty (2) Land Revenue (3) State Excise Duty (4) General Sales Tax

Description : The duties levied on alcoholic liquors, narcotic drugs and opium come under— (1) Central Excise Duty (2) Land Revenue (3) State Excise Duty (4) General Sales Tax

Last Answer :  Central Excise Duty

Agricultural income tax is a source of revenue to (1) Central Government (2) State Government (3) Local Administration (4) Centre and State Govern ments

Description : Agricultural income tax is a source of revenue to (1) Central Government (2) State Government (3) Local Administration (4) Centre and State Govern ments

Last Answer :  State Government

Which one of the following taxes is collected and utilized by the State Governments ? (1) Personal income tax (2) Corporation tax (3) Land revenue (4) Custom duties

Description : Which one of the following taxes is collected and utilized by the State Governments ? (1) Personal income tax (2) Corporation tax (3) Land revenue (4) Custom duties

Last Answer : Land revenue 

Which one of the following is not included in current revenue of the Union Government ? (1) Tax revenue (2) Non-tax revenue (3) Loans (4) Interest payments

Description : Which one of the following is not included in current revenue of the Union Government ? (1) Tax revenue (2) Non-tax revenue (3) Loans (4) Interest payments

Last Answer : Loans

The tax levied on gross sales revenue from business transactions is called (1) Turnover Tax (2) Sales Tax (3) Capital Gains Tax (4) Corporation Tax

Description : The tax levied on gross sales revenue from business transactions is called (1) Turnover Tax (2) Sales Tax (3) Capital Gains Tax (4) Corporation Tax 

Last Answer : Turnover Tax

The difference between the GNP and the NNP is equal to the (1) consumer expenditure on durable goods (2) direct tax revenue (3) indirect tax revenue (4) capital depreciation

Description : The difference between the GNP and the NNP is equal to the (1) consumer expenditure on durable goods (2) direct tax revenue (3) indirect tax revenue (4) capital depreciation

Last Answer : capital depreciation

If the main objective of the government is to raise revenue, it should tax commodities with (1) high elasticity of demand (2) low elasticity of supply (3) low elasticity of demand (4) high income elasticity of demand

Description : If the main objective of the government is to raise revenue, it should tax commodities with (1) high elasticity of demand (2) low elasticity of supply (3) low elasticity of demand (4) high income elasticity of demand

Last Answer : low elasticity of demand

When does lowering taxes increase government revenue?

Description : When does lowering taxes increase government revenue?

Last Answer : Economics is not an exact science. It is a lot of guesswork, There is no mutually agreed way to determine whether to raise or lower taxes; it is determined more by politics than by economics.

An increase in consumption at any given level of income will lead to (a) Higher aggregate demand. (b) An increase in exports. © A fall in taxation revenue. (d) A decrease in import spending.

Description : An increase in consumption at any given level of income will lead to (a) Higher aggregate demand. (b) An increase in exports. © A fall in taxation revenue. (d) A decrease in import spending.

Last Answer : (a) Higher aggregate demand.

If the anticipated revenue increase for acquiring a bid is $500,000 and the overhead is $40,000 and the company overhead is $75,000 and the minimum pretax must be 10% on the bid, using the overhead percentage, the bid price is equal to how much?

Description : If the anticipated revenue increase for acquiring a bid is $500,000 and the overhead is $40,000 and the company overhead is $75,000 and the minimum pretax must be 10% on the bid, using the overhead percentage, the bid price is equal to how much?

Last Answer : Construct an equation to perform the cost benefit analysis with revenue on one side and costs on the other side.

An increase in price will result in no change in total revenue if (a) Percentage change in price equal the percentage change in price (b) Percentage change in demanded is more than the percentage change in price (c) Percentage change in price is less than percentage change in demand (d) Change in price is more than change in demand in absolute terms

Description : An increase in price will result in no change in total revenue if (a) Percentage change in price equal the percentage change in price (b) Percentage change in demanded is more than the percentage ... percentage change in demand (d) Change in price is more than change in demand in absolute terms

Last Answer : (a) Percentage change in price equal the percentage change in price 

An increase in price will result in an increase in total revenue if (a) Percentage change in quantity demanded in greater than the percentage change in price (b) Percentage change in quantity demanded is less than the percentage change in price (c) Percentage change in quantity demanded is equal to the percentage change in price (d) None

Description : An increase in price will result in an increase in total revenue if (a) Percentage change in quantity demanded in greater than the percentage change in price (b) Percentage change in quantity demanded ... (c) Percentage change in quantity demanded is equal to the percentage change in price (d) None

Last Answer : (b) Percentage change in quantity demanded is less than the percentage change in price  

A decrease in price will result in an increase in total revenue if (a) Percentage change in quantity demanded in greater than the percentage change in price (b) Percentage change in quantity demanded is less than the percentage change in price (c) Percentage change in quantity demanded is equal to the percentage change in price (d) None

Description : A decrease in price will result in an increase in total revenue if (a) Percentage change in quantity demanded in greater than the percentage change in price (b) Percentage change in quantity demanded ... (c) Percentage change in quantity demanded is equal to the percentage change in price (d) None

Last Answer : (a) Percentage change in quantity demanded in greater than the percentage change in price 

Indirect tax means : (1) there is not direct relationship between the tax payer and the government. (2) direct relationship between tax payer and the government. (3) tax base is income (4) the incidence and impact are on the same person on whom tax is imposed.

Description : Indirect tax means : (1) there is not direct relationship between the tax payer and the government. (2) direct relationship between tax payer and the government. (3) tax base is income (4) the incidence and impact are on the same person on whom tax is imposed.

Last Answer : (1) there is not direct relationship between the tax payer and the government. Explanation: The term indirect tax has more than one meaning. In the colloquial sense, an indirect tax (such as ... which is collected directly by government from the persons (legal or natural) on which it is imposed.

Indirect tax means : (1) there is not direct relationship between the tax payer and the government. (2) direct relationship between tax payer and the government. (3) tax base is income (4) the incidence and impact are on the same person on whom tax is imposed.

Description : Indirect tax means : (1) there is not direct relationship between the tax payer and the government. (2) direct relationship between tax payer and the government. (3) tax base is income (4) the incidence and impact are on the same person on whom tax is imposed.

Last Answer : there is not direct relationship between the tax payer and the government.

Does it bother you that the tax laws are set up so that the very rich (i.e. Mitt Romney) pay a smaller percentage of taxes than you probably do?

Description : Does it bother you that the tax laws are set up so that the very rich (i.e. Mitt Romney) pay a smaller percentage of taxes than you probably do?

Last Answer : Sure: I think it bothers most of the 99%.

Ethically, the auditor could: a. Advertise only as to his expertise in preparing income tax returns. b. Base his audit fee on a percentage of the proceeds of his client’s stock issue. c. Perform an examination for a financially distressed client at less than his customary fees. d. Own preferred stock in a corporation which is an audit client.

Description : Ethically, the auditor could: a. Advertise only as to his expertise in preparing income tax returns. b. Base his audit fee on a percentage of the proceeds of his client's stock issue. c. Perform ... at less than his customary fees. d. Own preferred stock in a corporation which is an audit client.

Last Answer : Perform an examination for a financially distressed client at less than his customary fees.

The definition of 'small-scale industry' in India is based on - (1) sales by the unit (2) Investment In machines and equipments (3) market coverage (4) export capacity

Description : The definition of 'small-scale industry' in India is based on - (1) sales by the unit (2) Investment In machines and equipments (3) market coverage (4) export capacity

Last Answer : (2) Investment In machines and equipments Explanation: Generally, small-scale sector is defined in terms of investment ceilings on the original value of the installed plant and machinery. As per ... -scale and large-scale industries. This limit is being continuously raised up wards by government.

In which system of tillage the crop is planted in unprepared soil by opening a narrow slot or trench only of sufficient width and depth to obtain proper seed coverage? a. Cost effective Tillage b. Absolute Tillage c. Zero Tillaged. Nominal Tillage

Description : In which system of tillage the crop is planted in unprepared soil by opening a narrow slot or trench only of sufficient width and depth to obtain proper seed coverage? a. Cost effective Tillage b. Absolute Tillage c. Zero Tillage d. Nominal Tillage

Last Answer : c. Zero Tillage

The definition of ‘small-scale industry’ in India is based on (1) sales by the unit (2) investment in machines and equipments (3) market coverage (4) export capacity

Description : The definition of ‘small-scale industry’ in India is based on (1) sales by the unit (2) investment in machines and equipments (3) market coverage (4) export capacity

Last Answer : investment in machines and equipments

Extended heat transfer surface like fins are used to increase the heat transfer rate. Fin efficiency is defined as the ratio of heat transferred across the fin surface to the theoretical heat transfer across an equal area held at the (A) Surrounding temperature (B) Average temperature of the fin (C) Temperature of the fin end (D) Constant temperature equal to that of the base

Description : Extended heat transfer surface like fins are used to increase the heat transfer rate. Fin efficiency is defined as the ratio of heat transferred across the fin surface to the theoretical heat transfer ... (C) Temperature of the fin end (D) Constant temperature equal to that of the base

Last Answer : (D) Constant temperature equal to that of the base

What mathematical plane figure is ideal in cellular system design and engineering it graphically and functionally depicts overlapping radio coverage between and among adjacent cell base stations? A. Hexagon B. Octagon C. Pentagon D. Nonagon

Description : What mathematical plane figure is ideal in cellular system design and engineering it graphically and functionally depicts overlapping radio coverage between and among adjacent cell base stations? A. Hexagon B. Octagon C. Pentagon D. Nonagon

Last Answer : A. Hexagon

What is the percentage coverage of Tropical Forest on earth's landmass? (1) 7 (2) 12 (3) 17 (4) 25

Description : What is the percentage coverage of Tropical Forest on earth's landmass? (1) 7 (2) 12 (3) 17 (4) 25

Last Answer : (1) 7 Explanation: Although tropical forests cover less than 7% of the earth's surface they are home to approximately 50% of all living things on earth.

What is the approximate percentage of earth coverage of a geostationary satellite at zero degree elevation? A. 33.3% B. 45.2% C. 42.5% D. 30.5%

Description : What is the approximate percentage of earth coverage of a geostationary satellite at zero degree elevation? A. 33.3% B. 45.2% C. 42.5% D. 30.5%

Last Answer : C. 42.5%

Decision to stop testing should be based upon A. Successful use of specific test case design methodologies B. A percentage of coverage for each coverage category C. Rate of error detection falls below a specified threshold D. All of the above

Description : Decision to stop testing should be based upon A. Successful use of specific test case design methodologies B. A percentage of coverage for each coverage category C. Rate of error detection falls below a specified threshold D. All of the above

Last Answer : D. All of the above

What is the percentage coverage of Tropical Forest on earth’s landmass ? (1) 7 (2) 12 (3) 17 (4) 25

Description : What is the percentage coverage of Tropical Forest on earth’s landmass ? (1) 7 (2) 12 (3) 17 (4) 25

Last Answer : 7

From the information given below, calculate Debt service coverage Ratio– Net profit after interest and Tax Rs. 40,000, Depreciation Rs. 5,000, Rate of Income Tax 50%, 10% Mortgage Debentures Rs. 60,000. Fixed Interest Charges Rs. 6,000, Debenture Redemption Fund Appropriation of Outstanding Debentures 10%. (A) 4•06 times (B) 5•06 times (C) 6•06 times (D) 7•06 times

Description : From the information given below, calculate Debt service coverage Ratio- Net profit after interest and Tax Rs. 40,000, Depreciation Rs. 5,000, Rate of Income Tax 50%, 10% Mortgage Debentures Rs. 60,000. Fixed Interest Charges Rs. 6 ... . (A) 4 06 times (B) 5 06 times (C) 6 06 times (D) 7 06 times

Last Answer : Answer: 4•06 times

An Increase in national income because of an increase in price is called- (1) an increase in national income in real terms (2) an increase in national income at constant prices (3) an increase in money national income (4) an increase in national income at base year prices

Description : An Increase in national income because of an increase in price is called- (1) an increase in national income in real terms (2) an increase in national income at constant prices (3) an increase in money national income (4) an increase in national income at base year prices

Last Answer : (4) an increase in national income at base year prices Explanation: To find the real value of changes in output under inflationary conditions, the effects of any general price increase (price inflation) ... the base year. It holds prices constant in terms of the prices existing in the base year.

An increase in national income because of an increase in price is called (1) an increase in national income in real terms (2) an increase in national income at constant prices (3) an increase in money national income (4) an increase in national income at base year prices

Description : An increase in national income because of an increase in price is called (1) an increase in national income in real terms (2) an increase in national income at constant prices (3) an increase in money national income (4) an increase in national income at base year prices

Last Answer : an increase in national income at base year prices 

What has been the average annual percentage salary increase in the USA in the last decades?

Description : What has been the average annual percentage salary increase in the USA in the last decades?

Last Answer : I can't say what the actual percentage was but it was not enough to keep up with inflation. Executive salaries, however grew by many hundreds of a percent. The difference between ... our children and grandchildren will be facing conditions comparable to the characters in Charles Dickens's Scrooge.

What percentage change do you observe in the primary sector in the field of employment? (a) Increase by 11% (b) Increase by 61% (c) Decrease by 11% (d) Remains stagnant

Description : What percentage change do you observe in the primary sector in the field of employment? (a) Increase by 11% (b) Increase by 61% (c) Decrease by 11% (d) Remains stagnant

Last Answer : (c) Decrease by 11%

During periods of inflation, tax rates should - (1) increase (2) decrease (3) remain constant (4) fluctuate

Description : During periods of inflation, tax rates should - (1) increase (2) decrease (3) remain constant (4) fluctuate

Last Answer : (1) increase Explanation: In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time. In other words, inflation means continuously ... To control inflation there should be an increase in the tax rate and increase in the interest rate.

What is Value Added Tax (VAT)? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Description : What is Value Added Tax (VAT)? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Last Answer : (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. Explanation: A value added tax (VAT) is a form of consumption tax. A VAT is like a sales tax in that ... under the single tax system based primarily or exclusively on one tax, typically chosen for its special properties.