Which of the following are direct taxes?
Sales taxes
Excise taxes
Income and company taxes
Tarrif duties
Commodity taxes
Correct answer is C
No explanation has been provided for this answer.
The advantage accuring to a firm as a result of its expansion
The advantages accuring to one firm as a result of the existence of other firms in the same locality
Benefits derived by a firm as a result of its own individual policy
Reaped only by agricultural firms
Bound to increase the costs of production whatever the circumstances
Correct answer is B
No explanation has been provided for this answer.
A movement along a given demand curve for a good is caused by a change in
A consumer income
The price of the good
Taste
The prices of other goods
Population
Correct answer is B
No explanation has been provided for this answer.
Which of the following is a correct definition of equilibrium price?
A price which covers production cost
A price which maximizes entreprenuer's profits
A price at which the quantity demanded equals the quantity supplied
A price at which a competitive firm is at equilibrium
A price which stabilizes farmer's income
Correct answer is C
No explanation has been provided for this answer.
It is better to tax one whose demand is more elastic
It is better to tax one whose demand is more inelastic
Revenue will be the same from both commodities
It is not possible to say which will yield higher revenue
Government cannot make much revenue from taxing commodities
Correct answer is B
No explanation has been provided for this answer.