Economics MCQs

A. Proportional tax rate
B. Average tax rate
C. Marginal tax rate
D. Vertical tax rate

A. None of these answers
B. Reagan curve
C. Keynesian curve
D. Laffer curve

A. Will have no impact on tax revenue.
B. Will always reduce tax revenue regardless of the prior size of the tax
C. Could increase tax revenue if the tax had been extremely high
D. Causes a market to become less efficient

A. An excess of government receipts over government spending.
B. An equality of government spending and receipts.
C. A surplus of government workers.
D. An excess of government spending over government receipts.

A. A proportional tax
B. A regressive tax
C. An equitable tax
D. A progressive tax

A. B + c + e + f
B. E + f
C. B + c
D. A + b + c + d

A. A tax on salt
B. A tax on cigarettes
C. A tax on petrol
D. A tax on cruise line tickets

A. Supply is elastic, and demand is perfectly inelastic
B. Demand is elastic, and demand is perfectly inelastic
C. Both supply and demand are relatively inelastic
D. Both supply and demand are relatively elastic

A. The unscrupulous to enter the underground economy
B. The elderly to retire early.
C. All the things described in these answers.
D. Second earners to stay home.

A. C + d + f
B. A
C. A + b + e
D. D + c + b