Micro Economics MCQ (GK Set-1) with Answers

a tax on salt

a tax on cigarettes

a tax on petrol

a tax on cruise line tickets

supply is elastic and demand is perfectly inelastic

demand is elastic and supply is perfectly inelastic

both supply and demand are relatively inelastic

both supply and demand are relatively elastic

a small deadweight loss and the burden of the tax would fall on the renter.

a large deadweight loss and the burden of the tax would fall on the landlord.

a large deadweight loss and the burden of the tax would fall on the renter.

a small deadweight loss and the burden of the tax would fall on the landlord.

Reagan curve

Keynesian curve.

Laffer curve.

Henry George curve.

doubles.

stays the same.

increases by a factor of four

could rise or fall