Question : An individual's actual standard of living can be assessed by      

Option 1: Gross National Income

Option 2: Net National Income

Option 3: Per Capita Income

Option 4: Disposable Personal Income

Question : Which of the following is added to the national income to obtain the personal income of the households?

Option 1: Net interest payments

Option 2: Transfer payments from the government and firms

Option 3: Undistributed profits

Option 4: Corporate tax

Question : Which of the following sets of taxes belongs to the Central Government?

Option 1: Excise duty, sales tax and custom duty

Option 2: Income tax, custom duty and house tax

Option 3: Excise duty, custom duty and income tax

Option 4: Custom duty, entertainment tax, and income tax

Question : Directions: If 1 * 2 = 1, 2 * 3 = –1 and  3 * 4 = –5, then find the value of 7 * 9 = ?

Option 1: –47

Option 2: –29

Option 3: –2

Option 4: –9

Question : Which type of tax acts as an automatic stabiliser in the economy?

Option 1: Professional tax

Option 2: Wealth tax

Option 3: Capital gains tax

Option 4: Proportional income tax