43
A tax system in which the rich pay a higher percentage of income as tax than the poor is known as
- A. capital gains tax
- B. progressive taxation
- C. proportional taxation
- D. regressive taxation
- E. sales tax
44
Which of the following is an advantage of free enterprise economy?
- A. Allocates resources better
- B. Avoids extreme Inequality of income
- C. Full employment
- D. It is very competent In providing vital social services
- E. No need of employing a host of officials to allocate resources
45
If the Income flow of a country exceeds the expenditure flow in international transactions, the balance of payment is
- A. balanced
- B. deficit
- C. restricted
- D. surplus
46
Which of the following is NOT an advantage of localization of industry?
- A. Availability of social amenities
- B. Development of subsidiary industries
- C. Highly organized markets
- D. supply of skilled labour
- E. traffic De-congestion