Unemployment resulting from physical or mental deficiency is known as……………unemployment.
Cyclical
Disguised
Frictional
Residual
Voluntary
Correct answer is D
No explanation has been provided for this answer.
A tax system in which the rich pay a higher percentage of income as tax than the poor is known as
Capital gains tax
Progressive taxation
Proportional taxation
Regressive taxation
Sales tax
Correct answer is B
A progressive tax is a tax system that increases rates as the taxable income goes up.
Progressive taxation means higher tax rates for those with higher income or more wealth so that those who earn or have more are taxed at a higher rate.
Which of the following is an advantage of free enterprise economy?
Allocates resources better
Avoids extreme Inequality of income
Full employment
It is very competent In providing vital social services
No need of employing a host of officials to allocate resources
Correct answer is D
No explanation has been provided for this answer.
Balanced
Deficit
Restricted
Surplus
Correct answer is D
No explanation has been provided for this answer.
Which of the following is NOT an advantage of localization of industry?
Availability of social amenities
Development of subsidiary industries
Highly organized markets
Supply of skilled labour
Traffic De-congestion
Correct answer is E
No explanation has been provided for this answer.