Question : In which of the following cases does the law of demand fail?

Option 1: Giffen goods

Option 2: Normal goods

Option 3: Inferior goods

Option 4: Both Giffen and inferior goods

Question : The main effect of direct taxes is on:

Option 1: food prices

Option 2: consumer goods

Option 3: capital goods

Option 4: income

Question : Depreciation is a loss in value of-

Option 1: final goods

Option 2: machinery

Option 3: capital stock

Option 4: stock of inventory

Question : Which of the following is an indirect tax?

Option 1: Capital gains tax

Option 2: Goods and services tax

Option 3: Wealth tax

Option 4: Gift tax

Question : Inflation is a situation characterised by

Option 1: too much money chasing too few goods

Option 2: too few money chasing too many goods

Option 3: too many people chasing too few goods

Option 4: too many people chasing too little money