taxes types, methods & budgeting process section 2 Practice Questions Answers Test with Solutions & More Shortcuts
Taxes Types, Methods & Budgeting Process PRACTICE TEST [6 - EXERCISES]
taxes types, methods & budgeting process section 1
taxes types, methods & budgeting process section 2
taxes types, methods & budgeting process section 3
taxes types, methods & budgeting process section 4
taxes types, methods & budgeting process section 5
taxes types, methods & budgeting process section 6
Question : 7
The representation of the relationship between possible rates of taxation and the resulting levels of government revenue is called
a) Philips curve
b) Laffer curve
c) Griffin curve
d) Gini’s curve
Answer »Answer: (b)
Laffer curve is a representation of the relationship between possible rates of taxation and the resulting levels of government revenue.
It illustrates the concept of taxable income elasticity-i.e., taxable income will change in response to changes in the rate of taxation.
Phillips Curve is a supposed inverse relationship between the level of unemployment and the rate of inflation.
IMPORTANT indian economy mcq EXERCISES
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Top 500+ Indian Taxation System GK MCQ Quiz For SSC »
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Top 500+ Taxes Types & Budgeting Process GK MCQ Quiz PDF »
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499+ Tax Slab Types Benefits And Penalty GK MCQ Quiz PDF »
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Taxes Types, Methods & Budgeting Process Shortcuts »
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indian economy MCQ CATEGORIES
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» Introduction to Indian Economy
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» Planning, Economic Development & Five year Plans
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» National Income & Human Development Index
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» Agriculture Sector, Subsidy and Food Processing
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» Industries, Manufacturing & Service Sectors
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» Inclusive growth, Sustainable development and employment
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» Poverty & Unemployment
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» Introduction to Micro Economics
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» Introduction to Macro Economics
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» Macro fundamentals, GDP, Investment, Growth
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» Demand & Supply, Profit Loss, Inflation & Price Index
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» Fiscal Policy, Public Finance and Monetary Policy
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» Money Supply, Banking and Financial Institutions
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» Taxes Types, Methods & Budgeting Process
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» Banking, Security Market & Insurance
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