Question : A tax is said to be regressive when its burden falls on
Option 1: Less heavily on the poor than on the rich.
Option 2: More heavily on the poor than on the rich.
Option 3: Equally on the poor as on the rich.
Option 4: None of these
Correct Answer: More heavily on the poor than on the rich.
Solution : The correct option is more heavily on the poor than on the rich.
Regressive taxes take a larger share of lower-income people's income than they do from higher-income people. In other words, the proportion of income paid in taxes declines as income rises. This indicates that, about their overall financial status, persons with lower earnings bear a share of the tax burden.
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Question : In which type of tax is the marginal tax rate higher than the average tax rate?
Option 1: Digressive
Option 2: Proportional
Option 3: Regressive
Option 4: Progressive
Question : The liability to pay the tax and the actual burden of which of the following taxes lie on two different persons?
Option 1: Corporation tax
Option 2: Income tax
Option 3: Capital gains tax
Option 4: Goods and services tax
Question : India's share in total global trade in value terms as of 2023 is:
Option 1: less than 1% but more than 1/2%
Option 2: more than 2%
Option 3: less than 1/2%
Option 4: between 1% and 2%
Question : Which of the following may be classified as a 'Pigouvian tax'?
Option 1: Income tax
Option 2: Carbon tax
Option 3: Corporate tax
Option 4: Long term capital gain tax
Question : In a triangle ABC, AD, BE, and CF are three medians. The perimeter of ABC is:
Option 1: equal to $(\overline {AD}+\overline{BE}+\overline{CF})$
Option 2: greater than $(\overline {AD}+\overline{BE}+\overline{CF})$
Option 3: less than $(\overline {AD}+\overline{BE}+\overline{CF})$
Option 4: none of these
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