Economics Mcqs

A. a benefit in kind.
B. a means tested cash benefit
C. a universal (social insurance based) benefit
D. none of the above

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:

A. a higher percentage of their income in taxes then low income people
B. a lower percentage of their income in taxes than low income people
C. the same percentage of their income in taxes as low income people all the taxes in the economy.
D. all the taxes in the economy

A. those will equal ability to pay should bear equal tax burdens.
B. those who benefit the most from government service should bear the higher tax burden
C. those with equal ability to pay should bear unequal burdens
D. those with greater ability to pay should pay more

A. the income is split equally between the top 20% and the rest of the distribution
B. one person has all the income and every one else has nothing
C. all the income is received by the top 20% of the income distribution
D. income is equally distributed

A. will be perfectly inelastic in the long run. but upward slog in the short run
B. is perfectly inelastic since there is a fixed amount of land
C. is perfectly elastic since there is fixed amount of land
D. will be upward slog because as land becomes more valuable in once use, the amount of land made available for that use will increase