Description : Personal disposable income is : (1) always equal to personal income. (2) always more than personal income. (3) equal to personal income minus direct taxes paid by household. (4) equal to personal income minus indirect taxes.
Last Answer : (3) equal to personal income minus direct taxes paid by household. Explanation: Disposable income is total personal income minus personal current taxes. In national accounts definitions, personal ... category of personal (or, private) consumption expenditure) yields personal (or, private) savings
Description : Personal disposable income is - (1) always equal to personal income (2) always more than personal income (3) equal to personal income minus indirect taxes (4) equal to personal income minus direct taxes
Last Answer : (4) equal to personal income minus direct taxes Explanation: Disposable income is total personal income minus personal current taxes. In national accounts definitions, personal income, minus personal ... of personal (or, private) consumption expenditure) yields personal (or, private) savings.
Description : Personal Income' equals - (1) The household sector's in-come (2) Private income minus savings of the corporate sector minus corporation tax (3) Personal disposable income plus miscellaneous receipts of the Goverment (4) All of the above
Last Answer : (3) Personal disposable income plus miscellaneous receipts of the Goverment Explanation: Disposable income is total personal income minus personal current taxes (or plus receipts of the government). ... category of personal (or, private) consumption expenditure) yields personal (or, private) savings
Description : ‘Personal Income’ equals (1) The household sector’s income (2) Private income minus savings of the corporate sector minus corporation tax (3) Personal disposable income plus miscellaneous receipts of the Goverment (4) All of the above
Last Answer : Personal disposable income plus miscellaneous receipts of the Goverment
Description : 5. Disposable Income is equal to: a. National Income c. National Income Minus Taxes b. Real GDP c. National Income Minus Taxes d. National Income Minus Taxes Plus Transfers
Last Answer : d. National Income Minus Taxes Plus Transfers
Description : The difference between personal disposable income and personal income is (a) Indirect taxes ; (b) Subsidies ; (c) Transfer payments ; (d) Personal taxes.
Last Answer : ; (d) Personal taxes.
Description : Personal disposable income is equal to .. (a) Wages and salaries + Dividends paid at home - Personal income tax (b) Wages and salaries + Dividends paid at home + Factor income ... + Dividends paid at home + Factor income received from abroad - Transfers from government - Personal income tax.
Last Answer : (c) Wages and salaries + Dividends paid at home + Factor income received from abroad + Transfers from government – Personal income tax.
Description : Personal income equals personal disposable income (Yd) plus (a) Personal savings ; (b) Transfers from government ; (c) Personal income taxes ; (d) Dividend payments
Last Answer : (c) Personal income taxes ;
Description : An individual's actual standard of living can be assessed by - (1) Gross National Income (2) Net National Income (3) Per Capita Income (4) Disposable Personal Income
Last Answer : (3) Per Capita Income Explanation: The standard of living is a measure of the material welfare of the inhabitants of a country. The baseline measure of the standard of living is real ... GDP increases a nation's standard of living providing that output rises faster than the total population.
Description : An individual’s actual standard of living can be assessed by (1) Gross National Income (2) Net National Income (3) Per Capita Income (4) Disposable Personal Income
Last Answer : Per Capita Income
Description : Which of the following is the highest income between direct and indirect taxes ?
Last Answer : Between direct and indirect taxes, more income is earned indirectly.
Description : GDP at factor cost exceeds GDP at market price (a) When the factor income from abroad is negative ; (b) When depreciation on fixed capital exceeds income in investment; (c) When direct tax exceeds indirect tax ; (d) When subsidies exceeds indirect taxes.
Last Answer : (d) When subsidies exceeds indirect taxes.
Description : GDP at market price exceeds GDP at factor cost by the amount of revenue raised through ………………. (a) Direct taxes ; (b) Indirect taxes ; (c) Income tax ; (d) Tax on rents
Last Answer : ; (b) Indirect taxes ;
Description : Depreciation is equal to — (1) Gross national product —Net national product (2) Net national product —Gross national product (3) Gross national product —Personal income (4) Personal income — Personal taxes
Last Answer : (1) Gross national product -Net national product Explanation: Net national product at market price is the market value of the output of final goods and services produced at current price in ... we get net national product at market price. So depreciation = Gross National ProductNet National Product,
Description : Depreciation is equal to — (1) Gross national product — Net national product (2) Net national product — Gross national product (3) Gross national product — Personal income (4) Personal income — Personal taxes
Last Answer : Gross national product — Net national product
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.
Last Answer : there is not direct relationship between the tax payer and the government.
Description : If economic subsidies are added to and indirect taxes are subtracted from the national income at market prices , then it will be equal to :
Last Answer : If economic subsidies are added to and indirect taxes are subtracted from the national income at ... prices D. Gross domestic product at factor cost
Description : Net factor income from abroad is equal to (a) NNP at market price – NDP at market price ; (b) NDP at market prices – Indirect taxes + Subsidies ; (c) NDP at factor cost + Depreciation ; (d) NNP at market prices + Depreciation
Last Answer : (a) NNP at market price – NDP at market price ;
Description : Income left over after an individual pays taxes and purchases the basic necessities of food, clothing and shelter is called : 1. disposable income 2. taxable income 3. accounting income 4. discretionary income 5. credit
Last Answer : discretionary income
Description : Why are marketers interested in the level of disposable income ? 1. it accurately represents future buying power 2. it increases current buying power 3. it is what is left after taxes to buy ... . it is a ready source of buying power 5. it is essential for forecasting future business trends
Last Answer : it is a ready source of buying power
Description : Income left over after an individual pays taxes and purchases the basic necessities of food, clothing and shelter is called: A)disposable income B)taxable income C)accounting income D)discretionary income E)credit
Last Answer : D)discretionary income
Description : Why are marketers interested in the level of disposable income? A)it accurately represents future buying power B)it increases current buying power C)it is what is left after taxes to buy luxuries ... D)it is a ready source of buying power E)it is essential for forecasting future business trends
Last Answer : D)it is a ready source of buying power
Description : When my income was $100,000, I paid $10,000 in taxes. When my income became $200,000, I paid $40,000 in taxes. My marginal tax rate is: a. 10% b. 20% c. 30% d. 40%
Last Answer : c. 30%
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.
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
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.
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
Description : Which of the following are not characteristics of Keynesian consumption function? (a) The main influence on consumption in the short run is current disposable income (b) The marginal ... consume decreases as income increases (d) The average propensity to consume increases as income increases
Last Answer : d) The average propensity to consume increases as income increases
Description : Which of the following is a better measurement of Economic Development? (1) GDP (2) Disposable income (3) NNP (4) Per capita income
Last Answer : (4) Per capita income Explanation: Per capita income or average income or income per person is the mean income within an economic aggregate, such as a country or city. It is calculated by taking a ... individuals and nation. Besides, it helps to show the level of inequality in a society or country.
Description : The total value of goods and services produced in a country during a given period is - (1) Disposable income (2) National income (3) Per capita income (4) Net national income
Last Answer : (2) National income Explanation: National income is the total value a country's final output of all new goods and services produced in one year. Understanding how national income is created is the starting point for macroeconomics.
Description : The total value of goods and services produced in a country during a given period is (1) Disposable income (2) National income (3) Per capita income (4) Net national income
Last Answer : National income
Description : Which of the following is a better measurement of Economic Development ? (1) GDP (2) Disposable income (3) NNP (4) Per capita income
Last Answer : Per capita income
Description : Are indirect business taxes included in the measurement of GDP?
Last Answer : I'm pretty sure they aren't included at all, just like Government spending does not include benefit payments for GDP purposes. GDP is all about what an economy produces; things like taxes and food stamps ... what a country is producing. I'm still not 100% on that though, so you should verify it.
Description : Value of out put and value added can be distinguished if we know: (1) the value of intermediate consumption (2) the value of net indirect taxes (3) the value of the sales (4) the value of consumption of fixed capital
Last Answer : (1) the value of intermediate consumption Explanation: Intermediate consumption is an accounting flow which consists of the total monetary value of goods and services consumed or used up as inputs in ... how it is exactly defined and estimated will importantly affect the size of the GDP estimate.
Description : Indirect taxes by nature are - (1) degressive (2) regressive (3) progressive (4) proportional
Last Answer : (2) regressive Explanation: An indirect tax is one in which the burden can be shifted to others. The tax payer is not the tax bearer. The impact and incidence of indirect taxes are on ... nature. Therefore, individuals would not be de-motivated to work and to save, which may increase investment.
Description : Indirect taxes by nature are (1) degressive (2) regressive (3) progressive (4) proportional
Last Answer : regressive
Last Answer : the value of intermediate consumption
Description : Personal taxes in India best illustrates a (a) Proportional tax system ; (b) Progressive tax system (c) Indirect tax system ; (d) Value added tax system
Last Answer : (b) Progressive tax system
Description : From the following information , compute `GNP_(MP) . GDP_(FC)` = ₹ 3, 000 . Net factor income to abroad = ₹ 200 . Indirect Taxes = ₹ 420 , Subsidies =
Last Answer : From the following information , compute `GNP_(MP) . GDP_(FC)` = ₹ 3, 000 . Net factor income to abroad = ₹ ... A. 3380 B. 2, 980 C. 3020 D. 2, 620
Description : If net national products is given at Market Prices , we `"____"` indirect taxes and `"________"` subsidies to get National income of the economy.
Last Answer : If net national products is given at Market Prices , we `"____"` indirect taxes and `"________"` ... Divide C. Subtract , Add D. Subtract , Divide
Description : The difference between Gross National Product (GNP) and Gross Domestic Product GDP) is (a) Excess of subsidies over indirect taxes ; (b) Depreciation ; (c) Net foreign income from abroad (d) Excess of indirect taxes over subsidies
Last Answer : (c) Net foreign income from abroad
Description : GST is — type of tax ? a. Direct b. Indirect c. Both a & b d. None of these
Last Answer : b. Indirect
Description : Whch of the following curve describes the variation of household expenditure on a particular good with respect to household income? (1) Demand curve (2) Engel curve (3) Great Cats by curve (4) Cost curve
Last Answer : (2) Engel curve Explanation: In microeconomics, an Engel curve describes how household expenditure on a particular good or service varies with household income. The curve is named after ... was the first to investigate this relationship between goods expenditure and income systematically in 1857.
Description : The balance of payments equals (a) The difference between household spending over earnings (b) The difference between government expenditure over its income © A measure of the value of economic ... a country and rest of the world (d) The difference between inflation and unemployment.
Last Answer : © A measure of the value of economic transactions between residents of a country and rest of the world
Description : Which of the following curve describes the variation of household expenditure on a particular good with respect to household income ? (1) Demand curve (2) Engel curve (3) Great Gatsby curve (4) Cost curve
Last Answer : Engel curve
Description : Net National Product of a country is - (1) GDP minus depreciation allowances (2) GDP plus net income from abroad (3) GNP minus net income from abroad (4) GNP minus depreciation allowances
Last Answer : (4) GNP minus depreciation allowances Explanation: Net national product (NNP) is the total market value of all final goods and services produced by residents in a country or other polity during a given ... and NDP is equal to gross domestic product (GDP) minus depreciation: NDP = GDP - depreciation.
Description : Net National Product of a country is (1) GDP minus depreciation allowances (2) GDP plus net income from abroad (3) GNP minus net income from abroad (4) GNP minus depreciation allowances
Last Answer : GNP minus depreciation allowances
Description : Income tax is a…………………. A) Professional tax B) Direct tax C) Indirect tax D) Service tax
Last Answer : B) Direct tax