Which of the following is an example of a progressive tax system feature? MCQ with Answer and Explanation

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Which of the following is an example of a progressive tax system feature?

A. Higher tax rate on higher income slabs

B. Same tax rate for all income levels

C. Tax rate independent of income

D. Higher tax burden on lower income groups

Answer: Option A

Solution (By JKSSB Mock Tests)

A progressive tax system imposes higher marginal tax rates on higher income levels, increasing the average tax rate as income rises.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'National Strategy for Financial Education' is formulated by:

A. World Bank

B. SEBI only

C. RBI and financial sector regulators

D. Ministry of Defence

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Correct Answer: Option C

Explanation:
The National Strategy for Financial Education is formulated by RBI and other financial regulators.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'World Health Organization' headquarters is in:

A. Rome

B. Paris

C. New York

D. Geneva

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Correct Answer: Option D

Explanation:
WHO headquarters is in Geneva.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is NOT a feature of perfect competition?

A. Product differentiation

B. Homogeneous product

C. Free entry and exit

D. Large number of buyers and sellers

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Correct Answer: Option A

Explanation:
Product differentiation is a feature of monopolistic competition, not perfect competition. In perfect competition, products are homogeneous.

This question belongs to: Economy GK Economy Set 1

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