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

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 
by

1 Answer

Answer :

; (b) Indirect taxes ;
by

Related questions

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.

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. 

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

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 ;

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

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

If we add……………. to net domestic production we get GDP (a) Depreciation ; (b) Direct tax ; (c) Indirect tax ; (d) Interest payment

Description : If we add……………. to net domestic production we get GDP (a) Depreciation ; (b) Direct tax ; (c) Indirect tax ; (d) Interest payment

Last Answer : (a) Depreciation ;

If we add……………. to national income we get NDP (a) Depreciation ; (b) Net foreign factor income ; (c) Indirect-tax ; (d) Transfer payment

Description : If we add……………. to national income we get NDP (a) Depreciation ; (b) Net foreign factor income ; (c) Indirect-tax ; (d) Transfer payment

Last Answer : (b) Net foreign factor income ;

Personal taxes in India best illustrates a (a) Proportional tax system ; (b) Progressive tax system (c) Indirect tax system ; (d) Value added tax system

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 

The difference between personal disposable income and personal income is (a) Indirect taxes ; (b) Subsidies ; (c) Transfer payments ; (d) Personal taxes.

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.

If GDP exceeds GNP the possible reasons could be (a) Foreigners are earning more in India than Indians are earning in foreign countries (b) High incidence of plant and machinery wear out (c) Indian are earning more in foreign countries than foreigners earnings in India (d) None

Description : If GDP exceeds GNP the possible reasons could be (a) Foreigners are earning more in India than Indians are earning in foreign countries (b) High incidence of plant and machinery wear out (c) Indian are earning more in foreign countries than foreigners earnings in India (d) None

Last Answer : (a) Foreigners are earning more in India than Indians are earning in foreign countries 

Given the supply quantity which is fixed an increase in aggregate demand will have direct impact on (a) Increase in GDP ; (b) Inflationary pressure ; (c) Greater employment opportunity; (d) More equitable distribution of income and wealth

Description : Given the supply quantity which is fixed an increase in aggregate demand will have direct impact on (a) Increase in GDP ; (b) Inflationary pressure ; (c) Greater employment opportunity; (d) More equitable distribution of income and wealth 

Last Answer : (b) Inflationary pressure ;

The net factor income earned within the domestic territory of a country must be equal to (a) Net Domestic Product at factor cost ; (b) Net Domestic Product at market price; (c) Net National Product at market price ; (d) Personal income.

Description : The net factor income earned within the domestic territory of a country must be equal to (a) Net Domestic Product at factor cost ; (b) Net Domestic Product at market price; (c) Net National Product at market price ; (d) Personal income.

Last Answer : (a) Net Domestic Product at factor cost ;

Which of the following is correct for the price ceiling which is set below the market‟s equilibrium price? (a) quantity demanded exceeds quantity supplied at the set price; (b) quantity demanded is less than quantity supplied at the set price ; (c) at the set price there is a surplus ; (d) None of above

Description : Which of the following is correct for the price ceiling which is set below the market s equilibrium price? (a) quantity demanded exceeds quantity supplied at the set price; (b) quantity demanded is less than quantity ... the set price ; (c) at the set price there is a surplus ; (d) None of above 

Last Answer : (a) quantity demanded exceeds quantity supplied at the set price;

Which of the following equation is correct? (a) GNP=GDP+Net factor income from abroad (b) GNP=GDP+Gross factor income from abroad (c) GNP=GDP-Net factor income from abroad (d) GNP=GDP-Gross factor income from abroad

Description : Which of the following equation is correct? (a) GNP=GDP+Net factor income from abroad (b) GNP=GDP+Gross factor income from abroad (c) GNP=GDP-Net factor income from abroad (d) GNP=GDP-Gross factor income from abroad

Last Answer : (a) GNP=GDP+Net factor income from abroad 

Ceteris paribus, an income tax (a) Increases the value of the expenditure multiplier and decreases the value of the net tax revenue multiplier; (b) Decreases the value of the expenditure and net tax revenue multiplier; (c) Decreases the value of the expenditure multiplier and increases the value of the net tax revenue multiplier ; (d) None of the above.

Description : Ceteris paribus, an income tax (a) Increases the value of the expenditure multiplier and decreases the value of the net tax revenue multiplier; (b) Decreases the value of the expenditure and net tax ... multiplier and increases the value of the net tax revenue multiplier ; (d) None of the above.

Last Answer :  (b) Decreases the value of the expenditure and net tax revenue multiplier;

What will happen if a firm in perfect competitive market, increase its output by 50% (a)Total sales revenue will also increase by 50% ; (b) (b)Selling price will come down by 50%; (c)Total sales revenue will decrease by 50% ; (d)Profit will increase by 25%

Description : What will happen if a firm in perfect competitive market, increase its output by 50% (a)Total sales revenue will also increase by 50% ; (b) (b)Selling price will come down by 50%; (c)Total sales revenue will decrease by 50% ; (d)Profit will increase by 25%

Last Answer : (a)Total sales revenue will also increase by 50% ;

Inflationary conditions may co-exist with which of the following situation (a) Increase in factor cost ; (b) Increase in employment opportunities; (c) Growth in GDP and imports ; (d) All the three

Description : Inflationary conditions may co-exist with which of the following situation (a) Increase in factor cost ; (b) Increase in employment opportunities; (c) Growth in GDP and imports ; (d) All the three 

Last Answer : ; (d) All the three

National income is (a) NDP at market prices ; (b) NDP at factor cost ;(c) NNP at factor cost ; (d) GNP at market prices.

Description : National income is (a) NDP at market prices ; (b) NDP at factor cost ;(c) NNP at factor cost ; (d) GNP at market prices.

Last Answer : ;(c) NNP at factor cost ;

If Nominal GDP is 11% and Real GDP is 6%, then the difference of 5% represent (a) Depreciation ; (b) Rate of inflation ; (c) Rate of interest ; (d) Tax burden

Description : If Nominal GDP is 11% and Real GDP is 6%, then the difference of 5% represent (a) Depreciation ; (b) Rate of inflation ; (c) Rate of interest ; (d) Tax burden

Last Answer : (b) Rate of inflation ;

Total profit of a firm in a perfect competitive market is – (a) Total revenue less total cost ; (b) Marginal revenue less marginal cost; (c) Total revenue less marginal cost ; (d) Total revenue less variable cost

Description : Total profit of a firm in a perfect competitive market is – (a) Total revenue less total cost ; (b) Marginal revenue less marginal cost; (c) Total revenue less marginal cost ; (d) Total revenue less variable cost

Last Answer : (a) Total revenue less total cost ;

For a monopoly firm market demand curve is (a) Marginal revenue curve itself ; (b) Average Revenue curve itself ; (c) Marginal cost curve (d) None

Description : For a monopoly firm market demand curve is (a) Marginal revenue curve itself ; (b) Average Revenue curve itself ; (c) Marginal cost curve (d) None

Last Answer :  (b) Average Revenue curve itself ;

Under perfect market conditions a firm is said to be in equilibrium where (a) Total output is equal to total demand ; (b) Profit is the maximum; (c) Where the total revenue is maximum ; (d) Where total average cost is the minimum

Description : Under perfect market conditions a firm is said to be in equilibrium where (a) Total output is equal to total demand ; (b) Profit is the maximum; (c) Where the total revenue is maximum ; (d) Where total average cost is the minimum

Last Answer : (b) Profit is the maximum; 

Under perfect market conditions an Industry is said to be in equilibrium where (a) Total output is equal to total demand ; (b) Profit is maximum (c) Where the total revenue is maximum ; (d) Where total average cost is the minimum

Description : Under perfect market conditions an Industry is said to be in equilibrium where (a) Total output is equal to total demand ; (b) Profit is maximum (c) Where the total revenue is maximum ; (d) Where total average cost is the minimum

Last Answer : (a) Total output is equal to total demand ;

Which of these is not a factor of quantity supplied (a) Price of the goods ; (b) Price of the related other goods; (c) Cost of production ; (d) Consumers disposal income

Description : Which of these is not a factor of quantity supplied (a) Price of the goods ; (b) Price of the related other goods; (c) Cost of production ; (d) Consumers disposal income

Last Answer : ; (d) Consumers disposal income

Which of these would not be part of GDP? (a) Sale of Intermediate goods ; (b) Income from illegal betting ; (c) Household services rendered by a house wife in her family ; (d) All the three

Description : Which of these would not be part of GDP? (a) Sale of Intermediate goods ; (b) Income from illegal betting ; (c) Household services rendered by a house wife in her family ; (d) All the three

Last Answer : (d) All the three

Which of the following is not a factor in market supply of a product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product; (d) Price of related products

Description : Which of the following is not a factor in market supply of a product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product; (d) Price of related products

Last Answer : (b) Number of buyers ;

Which of the following is not a factor is market supply of product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product ; (d) Price of related products

Description : Which of the following is not a factor is market supply of product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product ; (d) Price of related products

Last Answer :  (b) Number of buyers 

Which of these is not a factor of cost function of a product (a) Market price of the product ; (b) Size of the plant ; (c) Output level ; (d) Prices of inputs

Description : Which of these is not a factor of cost function of a product (a) Market price of the product ; (b) Size of the plant ; (c) Output level ; (d) Prices of inputs

Last Answer : (a) Market price of the product ;

Which of the following is correct for a price floor set above the equilibrium price? (a) quantity supplied is less than quantity demanded at the set price.; (b) at the set price there will be a shortage; (c) quantity supplied exceeds quantity demanded at the set price ; (d) None of above

Description : Which of the following is correct for a price floor set above the equilibrium price? (a) quantity supplied is less than quantity demanded at the set price.; (b) at the set price there will be a shortage; (c) quantity supplied exceeds quantity demanded at the set price ; (d) None of above

Last Answer : (c) quantity supplied exceeds quantity demanded at the set price ;

A Monopoly‟s demand curve is (a) Same as its average revenue curve ; (b) Same as its supply curve; (c) Same as its cost curve ; (d) Same as that of the factor inputs

Description : A Monopoly‟s demand curve is (a) Same as its average revenue curve ; (b) Same as its supply curve; (c) Same as its cost curve ; (d) Same as that of the factor inputs

Last Answer : (a) Same as its average revenue curve ;

GDP can be defined as sum of the market value of the……….. (a) Final manufactured goods and services ; (b) Intermediate goods (c) Goods and services exported ; (d) Sub-standard goods and discarded services

Description : GDP can be defined as sum of the market value of the……….. (a) Final manufactured goods and services ; (b) Intermediate goods (c) Goods and services exported ; (d) Sub-standard goods and discarded services 

Last Answer : (a) Final manufactured goods and services ;

GDP is defined as (a) The market value of all goods and services produced in the domestic economy during the year ; (b) Current value of all the capital goods produced in the country. ; (c) Sum of goods and services exported during the year. ; (d) All the capital goods and consumable goods produced and sold during the year

Description : GDP is defined as (a) The market value of all goods and services produced in the domestic economy during the year ; (b) Current value of all the capital goods produced in the country. ; (c) ... during the year. ; (d) All the capital goods and consumable goods produced and sold during the year

Last Answer : (a) The market value of all goods and services produced in the domestic economy during the year ; 

GDP at market prices is the sum of Consumption, Investment, Government Spending and Net Exports. „Net‟ exports is (a) Gross exports minus depreciation ; (b) Exports minus imports ; (c) Gross exports earnings minus capital inflow ; (d) Export minus imports of merchandize

Description : GDP at market prices is the sum of Consumption, Investment, Government Spending and Net Exports. „Net‟ exports is (a) Gross exports minus depreciation ; (b) Exports minus imports ; (c) Gross exports earnings minus capital inflow ; (d) Export minus imports of merchandize 

Last Answer : (b) Exports minus imports ;

Which of the following statement is true (a) In perfect competition Average and Marginal revenue are identical (b) In perfect competition Average and Marginal cost are identical (c) In perfect competition Average price and Marginal cost are identical (d) In perfect competition only normal profit can be earned by a firm

Description : Which of the following statement is true (a) In perfect competition Average and Marginal revenue are identical (b) In perfect competition Average and Marginal cost are identical (c) In perfect competition ... cost are identical (d) In perfect competition only normal profit can be earned by a firm

Last Answer : (a) In perfect competition Average and Marginal revenue are identical

A competitive firm maximizes its total profit when ……………… (a) Average cost equal average realization ; (b) Marginal cost equals Price; (d) Total revenue is the maximum ; (d) MR = AR

Description : A competitive firm maximizes its total profit when ……………… (a) Average cost equal average realization ; (b) Marginal cost equals Price; (d) Total revenue is the maximum ; (d) MR = AR

Last Answer : (d) Total revenue is the maximum ;

……………… is an index of price change for goods and services included in GDP (a) Price index ; (b) Sensex ; (c) GDP deflator ; (d) None

Description : ……………… is an index of price change for goods and services included in GDP (a) Price index ; (b) Sensex ; (c) GDP deflator ; (d) None

Last Answer : (c) GDP deflator ; 

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 received from abroad – Personal income tax (c) Wages and salaries + Dividends paid at home + Factor income received from abroad + Transfers from government – Personal income tax. (d) Wages and salaries + Dividends paid at home + Factor income received from abroad - Transfers from government – Personal income tax.

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.

If there is simultaneous fall in consumers disposal income as well number of suppliers of a product in the market, the (a) Equilibrium quantity will decrease ; (b) Equilibrium price will decrease ; (c) Equilibrium price will go up ; (d) Equilibrium quantity will increase

Description : If there is simultaneous fall in consumers disposal income as well number of suppliers of a product in the market, the (a) Equilibrium quantity will decrease ; (b) Equilibrium price will decrease ; (c) Equilibrium price will go up ; (d) Equilibrium quantity will increase

Last Answer : (a) Equilibrium quantity will decrease ;

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.

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

The quantity of a commodity that an individual is willing to purchase over a specified period of time is a function of except ………. (a) Price of the commodity ; (b) Price of the competitive products; (c) His disposal income ; (d) Price of factor of production

Description : The quantity of a commodity that an individual is willing to purchase over a specified period of time is a function of except ………. (a) Price of the commodity ; (b) Price of the competitive products; (c) His disposal income ; (d) Price of factor of production 

Last Answer : ; (d) Price of factor of production

NDP does not include (a) Payments made for income taxes ; (b) Depreciation allowances ; (c) Undistributed profits; (d) The value added from intermediate goods.

Description : NDP does not include (a) Payments made for income taxes ; (b) Depreciation allowances ; (c) Undistributed profits; (d) The value added from intermediate goods.

Last Answer : (b) Depreciation allowances ;

Personal income includes all of the following except (a) Transfer payments ; (b) Undistributed corporate profits; (c) Personal income taxes ; (d) Dividend payments

Description : Personal income includes all of the following except (a) Transfer payments ; (b) Undistributed corporate profits; (c) Personal income taxes ; (d) Dividend payments

Last Answer : (b) Undistributed corporate profits;

Personal income equals personal disposable income (Yd) plus (a) Personal savings ; (b) Transfers from government ; (c) Personal income taxes ; (d) Dividend payments

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 ;

If in question No. 286 the price is reduced to `9 But the demand goes to 26 units what is the marginal revenue from sale of 26th unit (a) `7.4 ; (b) `(-16) ; (c) `16 ; (d) `257.4

Description : If in question No. 286 the price is reduced to `9 But the demand goes to 26 units what is the marginal revenue from sale of 26th unit (a) `7.4 ; (b) `(-16) ; (c) `16 ; (d) `257.4

Last Answer :  (b) `(-16) ;

The demand for a product is 25 units when the price is `10, however the demand rises to 26 when the price is reduced to `9.9 per unit. The marginal revenue from production and sale of additional unit from 25 to 26 is (a) `7.4 ; (b) `(16) ; (c) `10 ; (d) `257.6

Description : The demand for a product is 25 units when the price is `10, however the demand rises to 26 when the price is reduced to `9.9 per unit. The marginal revenue from production and sale of additional unit from 25 to 26 is (a) `7.4 ; (b) `(16) ; (c) `10 ; (d) `257.6

Last Answer : (a) `7.4 ;

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 

Which of the following is the highest income between direct and indirect taxes ?

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.

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

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.

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.

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