Micro Economics MCQ (GK Set-1) with Answers

Micro Economics MCQ (GK Set-1) with Answers

191) choose the correct option :1.In general, a tax raises the price the buyers pay, lowers the price the sellers receive, and reduces the quantity sold. 2.If

Answer is:

1-T,2-T,3-F

192) choose the correct option :1.When a tax is placed on a good, the revenue the government collects is exactly equal to the loss of consumer and producer surplus from the tax. 2.If John values having his hair cut at Rs.20 a

Answer is:

1-F,2-F,3-T

193) choose the correct option :1.A tax on cigarettes would likely generate a larger deadweight loss than a tax on luxury boats. 2.A tax will generate a greater deadweight loss if supply and demand are inelastic.

Answer is:

1-F,2-F,3-T

194) choose the correct option :1.A larger tax always generates more tax revenue. 2.A larger tax always generates a larger deadweight loss.

Answer is:

1-F,2-T,3-T

195) choose the correct option :1.A tax collected from buyers generates a smaller deadweight loss than a tax collected from sellers. 2.If a tax is

Answer is:

1-F,2-T,3-T

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