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CA Foundation Economics: related Business Economics practice — page 5

The practice bank below covers broader Business Economics topics; a dedicated Economics lesson is not available yet.

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Business Economics questions and exercises with answers

Showing questions 121–150 of 245.

Taxation helps a welfare state reduce what, by redistributing wealth?Read the answer and worked solution →How is a tax best described?Read the answer and worked solution →A tax on the production or sale of a particular good is called what?Read the answer and worked solution →Which tax is levied on goods at the point of importation?Read the answer and worked solution →Which tax is levied on incorporated entities?Read the answer and worked solution →Which tax may be levied on a Hindu joint family in India?Read the answer and worked solution →Government debt owed to foreign lenders is called what?Read the answer and worked solution →Debt owed to lenders within the country is called what?Read the answer and worked solution →On a cash basis, government revenues are recognised at what point?Read the answer and worked solution →Net revenue from issuing currency is known as what?Read the answer and worked solution →Which pair of traits defines a pure public good?Read the answer and worked solution →A good whose use by one person does not reduce availability to others is what?Read the answer and worked solution →Which is a standard example of a pure public good?Read the answer and worked solution →Which of these is a private good?Read the answer and worked solution →Which type of good is rivalrous but non-excludable?Read the answer and worked solution →Excludable but non-rivalrous goods such as private parks are what?Read the answer and worked solution →Which problem arises when non-payers can still access a public good?Read the answer and worked solution →Because of free riding, a public good may be what?Read the answer and worked solution →Who articulated the modern mathematical theory of public goods?Read the answer and worked solution →In which year did Samuelson publish The Pure Theory of Public Expenditure?Read the answer and worked solution →Optimal public good provision needs summed marginal valuations to equal what?Read the answer and worked solution →Two people value a park at $200 and $100; it costs $225. Net surplus?Read the answer and worked solution →Why is efficient Lindahl taxation hard in practice?Read the answer and worked solution →Goods meeting non-rivalry and non-excludability only partly are what?Read the answer and worked solution →How are public goods typically financed?Read the answer and worked solution →Why is the private sector often reluctant to supply public goods?Read the answer and worked solution →Fiscal policy uses which two tools to influence the economy?Read the answer and worked solution →Fiscal policy is based on the theories of which economist?Read the answer and worked solution →Macro use of fiscal policy developed in reaction to which event?Read the answer and worked solution →Which policy deals with the money supply and interest rates?Read the answer and worked solution →

Worked practice questions

Taxation helps a welfare state reduce what, by redistributing wealth?

  1. Labour supply
  2. Inequalities
  3. Foreign trade
  4. Population growth
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Correct answer: B. Inequalities

Redistribution of wealth through taxes is aimed at narrowing inequalities.

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How is a tax best described?

  1. An enforced contribution
  2. An optional user fee
  3. A voluntary donation
  4. A refundable deposit
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Correct answer: A. An enforced contribution

A tax is compulsory and imposed by legislative authority, so it is an enforced contribution.

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A tax on the production or sale of a particular good is called what?

  1. Wealth tax
  2. Gift tax
  3. Excise tax
  4. Stamp duty
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Correct answer: C. Excise tax

Excise is levied on production for sale, or on sale, of a certain good.

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How to practise

  1. Choose a Business Economics question and try to work out your answer.
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More Business Economics topics

Price-Output Determination under Different Market FormsPublic FinanceSupplyLaw of DemandInternational TradeBasic Problems of an Economy and Role of Price MechanismProduction And CostBusiness Cycles