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
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Correct Answer: Proportional income tax
Solution : The correct option is Proportional income tax.
Proportional income tax is regarded as the automatic stabiliser in the economy because all individuals or entities pay the same percentage of their income in taxes, regardless of their income level. There are no tax brackets.
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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 : Which of the following taxes is levied by the state government only?
Option 1: Wealth tax
Option 2: Entertainment tax
Option 3: Income tax
Question : Which of the following is not an indirect tax?
Option 1: Excise tax
Option 3: Customs duty
Option 4: Wealth tax
Question : In India, which of the following taxes is levied by the state government?
Option 1: Excise duty on liquor
Option 2: Capital gains tax
Option 3: Customs tax
Option 4: Corporation tax
Question : The rate of tax increase as the amount of the tax base increases is called
Option 1: proportional tax
Option 2: progressive tax
Option 3: regressive tax
Option 4: degressive tax
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