Question # 1

Personal income includes:

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Direct taxes

Indirect taxes

Undivided profit

Both 2nd and 3rd

"Government collects zero revenue if the tax rate is 0% and if the tax rate is 100%." Which of the following best describes this statement?

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Consumption curve

Supply curve

Laffer curve

Investment curve

International trade has the benefits:

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One

Three

Two

Unlimited

As more of a good is consumed, then total utility typically:

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Increases at a decreasing rate.

Decreases as long as marginal utility is negative

Decreases as long as marginal utility is positive

Is negative as long as marginal utility is decreasing.

In 2005-06 which country had the highest growth rate among the following?

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Egypt

Singapore

Kuwait

Nigeria

The growth rate of Sri-lanka in 2005-06?

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4.4 percent

5.9 percent

1.8 percent

7.5 percent

The share of agriculture in the national economy in 2005-06, was:

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21.6percent

16.2percent

12.8percent`

13.4percent

Which economist presented the Cardinal Theory of Utility:

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Marshall

Canon

Kroose

J.B. Say

What was the share of livestock to the GNP during 2005-06?

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4.7percent

6.5percent

3.5percent

8.0percent

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