Government revenue will increase if tax is imposed on a good whose demand is

A. elastic

B. inelastic

C. unitary elastic

D. perfectly elastic

Occupational distribution of population is mainly influenced by

A. economic factors

B. religious factors

C. geographical factors

D. social factors

Proportional tax refers to

A. taxation of the rich only

B. equal tax rate for all people

C. unequal tax rate for all people

D. taxation of civil servants only

Which of the following is not n item of capital expenditure?

A. Construction of highways

B. Building of dams

C. payment of salaries and wages

D. building of a new universities

The population which yields the highest level of income per head is known as

A. over-population

B. under-population

C. extreme population

D. optimum population

Price discrimination can only occur when there is

A. perfect competiton

B. imperfect competition

C. a merge

D. partnership

Commodity market can best be described as a market in which

A. goods are sold

B. labour is sold and bought

C. short-term loans are obtained

D. quoted stocks are bought

Provision of services is classified under

A. primary production

B. secondary production

C. tertiary production

D. production possibilities

In ordinary partnership, the risks are

A. borne by the workers

B. borne by the creditors

C. shared among the partners

D. undertaken by the active partners

balance of trade is define as the relationship between

A. invisible imports and exports

B. visible and invisible exports

C. imports and exports of services

D. visible exports and visible imports