A levy of excise duty on consumption of an item consumed will …………….. (a) Induce suppliers to pump in more quantity in the market; (b) Result in fall in the consumption of the commodity and lower total expenditure on it by the consumer ; (c) Lead to inflationary conditions ; (d) Place the consumer on lower indifference curve

A levy of excise duty on consumption of an item consumed will …………….. (a) Induce suppliers to pump in more quantity in the market; (b) Result in fall in the consumption of the commodity and lower total expenditure on it by the consumer ; (c) Lead to inflationary conditions ; (d) Place the consumer on lower indifference curve
by

1 Answer

Answer :

(d) Place the consumer on lower indifference curve 
by

Related questions

Which of these would lead to decrease in quantity supplied at a given price (a) Decrease in VAT ; (b) Decrease in excise duty; (c) Decrease in import duty ; (d) Imposition of higher levies

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Which of these would lead to increase in quantity supplied at a given price (a) Increase in VAT ; (b) Increase in excise duty ; (c) Increase in import duty ; (d) Reduction in levies

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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

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An indifference curve measures ______________ level of satisfaction derived from different combinations of commodity X and Y. (1) same (2) higher (3) lower (4) minimum

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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

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Excise duty on a commodity is payable with reference to its - (1) production (2) production and sale (3) production and transportation (4) production, transportation and sale

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Excise duty on a commodity is payable with reference to its (1) production (2) production and sale (3) production and transportations (4) production, transportation and sale

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Under perfect market conditions the supply curve of a firm is represented by (a) MC curve ; (b) MR curve ; (c) AR curve ; (d) AC curve

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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

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Which one of the following is NOT an example of indirect tax? (1) Sales tax (2) Excise duty (3) Customs duty (4) Expenditure tax

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Which one of the following is NOT an example of indirect tax? (1) Sales tax (2) Excise duty (3) Customs duty (4) Expenditure tax

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…………… it is the form of the market in which the only seller of a commodity has fully control over the prices (a) Monopoly ; (b) Pure monopoly ; (c) Simple monopoly ; (d) All the three

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An indifference curve measures the same level of - (1) Output from two factors (2) Satisfaction from two commodities (3) Satisfaction from Income and Capital (4) Satisfaction from expenditure and savings

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Price elasticity of demand of a product will be more inelastic if (a) It forms a major part of consumer house hold budget; (b) It forms a very small part of consumers household budget; (c) It is inferior ; (d) It is for mass consumption

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The demand curve of a Monopoly firm is – (a) Same that of a firm in a perfect competition ; (b) Same as that of the total market demand; (c) Non-exist ; (d) Perfectly elastic

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Consumption demand does not depend upon the level of (a) Income ; (b) Propensity to consume ; (c) Consumer spending ; (d) Marginal efficiency of investment.

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Last Answer : (d) Marginal efficiency of investment.  

Extension or contraction of quantity demanded of a commodity is a result of a change in the - (1) unit price of the commodity (2) income of the consutner (3) tastes of the consumer (4) climate of the region

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Extension or contraction of quantity demanded of a commodity is a result of a change in the (1) unit price of the commodity (2) income of the consumer (3) tastes of the consumer (4) climate of the region

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Last Answer : unit price of the commodity

Other things being equal, a decrease in quantity demanded of a commodity can be caused by – (1) a rise in the price of the commodity (2) a rise in the income of the consumer (3) a fall in the price of a commodity (4) a fall in the income of the consumer

Description : Other things being equal, a decrease in quantity demanded of a commodity can be caused by – (1) a rise in the price of the commodity (2) a rise in the income of the consumer (3) a fall in the price of a commodity (4) a fall in the income of the consumer

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Other things being equal, a decrease in quantity demanded of a commodity can be caused by (1) a rise in the price of the commodity (2) a rise in the income of the consumer (3) a fall in the price of a commodity (4) a fall in the income of the consumer

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Last Answer : a rise in the price of the commodity

The slope of the consumption curve connotes (a) Average propensity to save ; (b) Marginal Propensity to consume ; (c) Marginal propensity to save ; (d) Level of consumption in the economy.

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The excise duty on a certain item has been reduced to Rs 760 from Rs 950. Find the reduction per cent in the excise duy on that item. -Maths

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Last Answer : answer: