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Economics Past Questions and Answers

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Economics Questions

Question 471:

Which of the following is not a component of national income at factor cost?

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A Wages earned by doctor
B Rent paid to landlords
C Indirect tax
D Undistributed company profits
E Interest on loan

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Question 472:

which of the financial institutions cannot direct tax loans to individuals?

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A The agricultural bank
B The Industrial bank
C The central bank
D The Co-operative bank
E The Standard bank

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Question 473:

An ad valorem tax means

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A Total amount of an income tax
B A certain percentage on the value of a commodity
C A certain percentage tax on the volume of commodity
D A tax on capital gain
E A profit tax

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Question 474:

The foreign exchange rate of a country is

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A The interest rate fixed by the central bank
B The price of one national currency in terms of another
C The rate at which the central bank issues money
D The rate of interest on government bonds
E None of the above

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Question 475:

The 'terms of trade' means

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A The trade agreement between two countries
B The difference in the volumes of exports of two countries
C The value of a unit of export in relation to the value of a unit of import
D The production of total value of exports to the value of total trade
E None of the above

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