16.  Production function shows relation between

Answer & Explanation
Primary input and ultimate output

17.  Who was the chairmen of tenth Finance Commission?

Answer & Explanation
K.C. pant

18.  Who was the chairmen of 13th Finance Commission?

Answer & Explanation
Dr. vijay L Kelkar

19.  When the total product rises at an increasing rate, then the

Answer & Explanation
Marginal product is rising

20.  Indirect tax by nature are

Answer & Explanation
Regressive

21.  What is reduced from NNP to get National income.

Answer & Explanation
Indirect Tax

22.  Taxation is an instrument of

Answer & Explanation
Fiscal policy

23.  Example of Sales tax is-

Answer & Explanation
Indirect tax

24.  In case of direct tax, impact of tax & incidence of tax.

Answer & Explanation
On same person

25.  Coorporate tax are imposed by central govt., but used by

Answer & Explanation
Both state & central

26.  The 'Break-even' point is where

Answer & Explanation
Total revenue equals total cost.

27.  Operating Surplus is produced in

Answer & Explanation
Enterprise Sector

28.  In Economics, Production means

Answer & Explanation
Creating utility

29.  The remuneration of the entrepreneur in production is

Answer & Explanation
Pure Profit

30.  Which field gives highest tax-

Answer & Explanation
Industrial sector