Economics Page-8

71) The standard of living in a country is represented by its:
(A) National income
(B) Per capita income
(C) Poverty ratio
(D) Unemployment rate

72) Which is the best measure of economic growth of a country?
(C) Net revenue
(D) None of these

73) Which of the following is the basis for determining the national income?
(A) Total revenue of the State
(B) Net profit earned and expenditure incurred by the State
(C) Production of goods and services
(D) All of the above

74) Which of the following are referred to as the developed economics?
(A) Countries earning huge industrial profits
(B) Countries proficient in trade and export
(C) Countries have large per capita income
(D) Countries advanced in technology

75) The existence of a Parallel Economy or Black Money:
(A) Makes the economy more competitive
(B) Makes the monetary policies less effective
(C) Ensures a better distribution of income and wealth
(D) Ensures increasing productive investment

76) The communist manifesto was first published in which language?
(A) English
(B) French
(C) German
(D) Russian

77) Main bearers of the burden of indirect tax are:
(A) Manufacturers
(B) Traders
(C) Consumers
(D) Tax prayers

78) A tax that takes away a higher proportion of one's income as the income rises is termed as:
(A) Indirect tax
(B) Progressive tax
(C) Regressive tax
(D) Proportional tax

79) Excise Duties are taxes on:
(A) Sale of commodities
(B) Export of commodities
(C) Production of commodities
(D) Import of commodities

80) Companies pay Corporation Tax on their:
(A) Investment
(B) Production
(C) Sales
(D) Incomes

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