42 questions in Income - HI MCQ!

The aggregate value of goods and services produced in an economy can be calculated by three methods: income method, expenditure method and _____ method?

Mark as favorite

Which of the following best defines Net National Income?

Mark as favorite

Which country was the first to implement Goods and Services Tax (GST)?

Mark as favorite

Tax reforms are concerned with the reforms in the government’s taxation and public expenditure policies, which are collectively known as its _____?

Mark as favorite

Which of the following statements regarding Goods and Services Tax is INCORRECT?

Mark as favorite

A situation where the expenditure of the government exceeds its revenue is called?

Mark as favorite

What is the National Gross Domestic Product(GDP)?

Mark as favorite

Which of the following statements is true regarding disinflation?

Mark as favorite

Which of the following relations is true?

Mark as favorite

A ________ occurs when a government’s total expenditures exceed the revenue that is generated, excluding money from borrowings?

Mark as favorite