in Business & Finance

Economics Quiz 4

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Ok, we are back at quizzing you about economics. This time we try and probe your know how about macro economics. Macro economics deal with generalized theory of economics and deals with macro variable like Gross Domestic Product, Gross National Product, Per Capita income, Monetary policy etc etc. You are affected by all these things in your routine as yet you fail to recognize them as part of economic theory and jargon. So here you go with a bunch of questions:

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  • Question of

    What does fiscal policy deal with?

    • Government income and expenditure
    • funding of projects
    • Income tax
    • Government borrowing
  • Question of

    What is the main tool of a fiscal policy in any nation?

    • Finance Minister
    • Budget
    • President
    • bureaucrats
  • Question of

    Budget concerns only with revenue income and expenditure. Is this correct?

    • Yes
    • No
  • Question of

    What is indirect taxation?

    • Taxes given to citizen after budget
    • Taxes levied in an unseen manner
    • Taxes paid for you by others
    • Taxes on goods and services
  • Question of

    What is direct taxation?

    • Taxes levied on your incomes
    • Taxes declared in writing in budget
    • Taxes not paid by others
    • Government taxes
  • Question of

    When Federal government sells a federal utility to raise money then what kind of income is it?

    • Capital receipt
    • Revenue receipt
    • Dollars earned
    • Big money
  • Question of

    Indirect tax is an example of which kind of income?

    • Revenue receipt
    • Capital receipt
    • recurring income
    • Federal pocket money
  • Question of

    When a government meets revenue expenditures out of capital receipt it indicates that….

    • Government is in financial stress
    • Government has lot of money
    • Government is having fun
    • Revenue expenditure is huge
  • Question of

    What are macroscopic tax rates?

    • They reduce with larger incomes
    • They increase with larger incomes
    • They are levied on macro level
    • They are heavy
  • Question of

    What is tax base?

    • total amount collected as tax in a year
    • number of people filing tax returns
    • the base on which budget is made
    • It is made of dollars on which finance minister stands

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Budgetcapitaldirect taxeseconomicsfiscal policyindirect taxesrevenueTaxation

Written by Glower4

Glower is a writer cum poet who is a commoner endowed with uncanny gift of extreme and deep abstract thought resulting in astonishing written word.

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