Economics MCQS

271. Board may appoint a person to electronically file a return on behalf of a registered person under Section:
(A) 50
B) 52A
(C) 52
(D) 53

272. Tax paid on goods purchased by a person who gets registered within 30 days of purchase of goods shall be treated as:
A) Input Tax
(B) Output Tax
(C) Ad Valorem Tax
(D) Both A & B

273. An authorized representative of a registered person may appear before the Appellate Tribunal as spells Section:
(A) 50
(B) 51
C) 52
(D) 53

274. When a person imports goods, the tax paid by him thereon during a period of 30 days before making an application for registration shall be treated as:
(A) Output Tax
B) Input Tax
(C) Progressive Tax
(D) None of these

275. Section __ deals with drawbacks on goods taken into use between importation & re-exportation period.
(A) 61
(B) 62
C) 63
(D) 64

276. Examples of the inductive method of economic theory can be:
A) Engel’s law
(B) Malthusian theory of population
(C) Law of demand
(D) All of the above

277. When we start with particular facts and then make general theory, it is called:
(A) Deductive method
B) Inductive method
(C) Partial equilibrium method
(D) None of the above

278. Macro-economics deals with:
(A) Theory of distribution
(B) Theory of economic growth
(C) Theory of income and employment
D) All of the above

279. Price theory deals with:
(A) Factor pricing
(B) Product pricing
(C) Welfare economics
D) All of the above

280. A rise in the price of goods leads to a fall in its quantity demanded. Thus, the government showed cheek rise in prices. This statement refers to:
(A) Normative economics
C) Both Normative and Positive Economics
(B) Positive economics
(D) None of the above