Basic Economics Quiz

What is the primary goal of land reform?

• Increase industrial growth

• Reduce government spending

• Encourage foreign land ownership

• Redistribute land to promote equity and productivity

Which Philippine law established the Comprehensive Agrarian Reform Program (CARP)?

• Republic Act No. 6657

• Republic Act No. 3844

• Presidential Decree No. 27

• Republic Act No. 6657 (Comprehensive Agrarian Reform Law)

What is taxation?

• A compulsory financial charge imposed by the government

• A voluntary donation to the government

• A form of trade restriction

• A type of loan

Eminent domain allows the government to:

• Take private land for public use with just compensation

• Sell public lands to private entities

• Lease land indefinitely

• Ban land ownership

Which of the following is a type of land tax?

• Income Tax

• Real Property Tax

• Sales tax

• Value-added tax

Why is land reform important in developing countries?

• It reduces inequality and boosts agricultural output

• It increases foreign investments

• It discourages farming

• It eliminates all taxes

What is the difference between progressive and regressive taxation?

• Progressive taxes increase with income; regressive taxes burden the poor more

• Progressive taxes are voluntary; regressive taxes are mandatory

• Progressive taxes apply only to businesses

• Regressive taxes are always higher

How does land valuation affect taxation?

• Higher valuation leads to higher taxes

• It has no impact

• Lower valuation increases tax exemptions

• Only urban land is valued

The Department of Agrarian Reform (DAR) is responsible for:

• Collecting income taxes

• Implementing land redistribution and supporting farmers

• Managing urban housing

• Regulating stock markets

Why is 'just compensation' required in land expropriation?

• To punish landowners

• To encourage land donations

• To reduce government expenses

• To fairly compensate owners for taken property