What would be likely to increase inflation in any economy?
Increase in demand
Reduce public spending
Control excessive import
Increase in direct tax
Correct answer is A
Excess demand without a corresponding increase in supply causes inflation.
The curve labeled III illustrate a system of taxation
Regressive tax
Progressive tax
Value added tax
Proportional tax
Correct answer is A
A regressive tax falls as incomes increases while progressive tax rises as income increases. Proportional tax is a flat rate while value added tax is the tax imposed on goods and services at each stage of production.
The curve labeled II illustrates a system of taxation
Proportional tax
Regressive tax
Value added
Progressive tax
Correct answer is A
A proportional tax is a flat rate payment of tax. The same level of tax is paid irrespective of the level of income or wealth.
Isocost and isoquant can be attributed to
Theory of consumer behaviour
Theory of cost
Theory of production
Theory of value
Correct answer is C
No explanation has been provided for this answer.
All the following are properties of an indifference curves except
It can intersect
It slopes downward from left to right like that of a normal demand curve
As it shift rightward it indicate higher and higher level of satisfaction
It does not intersect
Correct answer is A
No explanation has been provided for this answer.
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