Advertisements
Advertisements
Question
Match the following and select the correct option:
| Column A | Column B | ||
| (i) | Taxes imposed on income and wealth | A. | Regressive |
| (ii) | Taxes imposed on goods and services | B. | Progressive |
| (iii) | A tax system where the rate of tax decreases with increase income | C. | Direct taxes |
| (iv) | A tax system where the rate of tax increases as income increase | D. | Indirect taxes |
Options
(i) D, (ii) A, (iii) B, (iv) C
(i) C, (ii) D, (iii) B, (iv) A
(i) B, (ii) A, (iii) D, (iv) C
(i) C, (ii) D, (iii) A, (iv) B
Advertisements
Solution
(i) C, (ii) D, (iii) A, (iv) B
Explanation:
| Column A | Column B | ||
| (i) | Taxes imposed on income and wealth | A. | Direct taxes |
| (ii) | Taxes imposed on goods and services | B. | Indirect taxes |
| (iii) | A tax system where the rate of tax decreases with increase income | C. | Regressive |
| (iv) | A tax system where the rate of tax increases as income increase | D. | Progressive |
APPEARS IN
RELATED QUESTIONS
The state can promote economic development by ______.
A policy under which the government uses its expenditure and revenue to produce desirable effect and avoid undesirable effects on the national income, production and employment. This defines ______.
Match the following:
| Column I | Column II | ||
| A. | Impact of tax | (i) | Price stability |
| B. | Incidence of tax | (ii) | Simple to calculate |
| C. | Objective of Monetary Policy | (iii) | Ultimate burden of tax |
| D. | Proportional tax | (iv) | Original imposition of tax |
Define Indirect tax
Define a degressive tax.
What is meant by shifting of tax burden?
To which tax is this shifting of tax burden relevant?
Give an example of Indirect tax.
Give one example of progressive tax.
Citing reasons state the superiority of Progressive tax over regressive tax.
