Economics MCQs

Correct answer B. It reduces the purchasing power of a rupee

Correct answer A. The employer

Correct answer D. Those with greater ability to pay should pay more

Correct answer B. Aggregate supply is perfectly inelastic

Correct answer A. A depreciation of the currency

Correct answer E. All of these answers

Correct answer B. The tax rate you pay on any additional income that you earn

Correct answer D. Nominal wages have risen more than inflation

Correct answer A. A higher percentage of their income in taxes than low-income people

Correct answer B. A decrease in the demand for unskilled workers because of advances in technology and increases in international trade

Correct answer B. The ultimate distribution of a tax's burden

Correct answer D. Unemployment

Correct answer B. Productivity

Correct answer B. 5.4 percent

Correct answer B. Elasticities of demand and supply

Correct answer C. Discrimination can only persist in a competitive labour market if customers are willing to pay to maintain the discriminatory practice or the government requires discrimination

Correct answer D. Ad valorem

Correct answer B. Products purchased by the typical consumer

Correct answer D. All of these answers are correct

Correct answer C. A means-tested cash benefit