A. 5.4 percent
B. 30.7 percent
C. You can’t tell without knowing the base year
D. 5.1 percent
Economics Mcqs
Where a tax can be shifted the incidence depends on ?
A. whether there is perfect or imperfect information
B. who is legally obliged to pay the tax
C. elasticities of demand and supply
D. how many producers there are:
Which of the following statements regarding discrimination is true ?
A. The existence of a wage differential among groups is strong evidence of discrimination in the labour market
B. Discrimination can only persist in a competitive labour market it customers are willing to pay to maintain the discriminatory practice or the government requires discrimination
C. Bigoted employers are the main source of a persistent discriminatory wage differential in a competitive market
D. Discrimination cannot exist in a competitive labor market
VAT is a good example of which kind of tax ?
A. specific
B. Direct
C. Ad valorem
D. Excise duty
The “basket” on which the CPI is based is composed of ?
A. consumer production
B. Products purchased by the typical consumer
C. raw materials purchased by firms
D. total current production
E. none of these answers
A wage differential among groups may not by itself be evidence of discrimination in the labour market because different groups have ?
A. different preferences for the type of work they are willing to do
B. different levels of job experience
C. all of these answers are correct
D. different levels of education
The Benazir Benefit income Scheme is a good example of ?
A. a benefit in kind.
B. a means tested cash benefit
C. a universal (social insurance based) benefit
D. none of the above
Which of the following is likely to generate a compensating differential ?
A. One employee is more attractive than another
B. One employee is more educated than another
C. All of these answers generated
D. One employee works harder than another
E. One employee is willing to work the nightshift while another is not.
Refer to Figure 24-1 What is the value of the basket in the base year ?
A. Rs459.25
B. Rs418.75
C. Rs300
D. None of these
The substitution effect of a rise in the price of labour will …. the quantity of labour and the output, effect will …. it
A. increase; increase
B. increase; reduce
C. reduce; reduce
D. reduce; increase