ECONOMY MCQS SET 108

ECONOMY MCQS SET 108

1071) The existence of a parallel economy/black money
A) makes the economy more competitive
B) makes the monetary policies less effective
C) ensure a better distribution of income and wealth
D) ensure increasing productive investment
Correct Answer: makes the monetary policies less effective
   
1072) Which one of the following is refer to the use of taxation, public expenditure and the management of public debt in order to achieve certain specified objectives?
A) Fiscal Policy
B) Trade Policy
C) Revenue Policy
D) None of these
Correct Answer: Fiscal Policy
   
1073) Consider the following sources
1. Mint
2. Revenue from Indian Security Press
3. Grant-in aid from other countries
Which of the sources given above is/are revenue sources of the Central Government from the Fiscal Services?
A) Only 2
B) 1 and 3
C) 2 and 3
D) All of these
Correct Answer: All of these   
 
1074) Which one of the following forms the Capital Expenditure of the Central Government?
A) Loans and advances made to states
B) Grants given to states
C) Interest payments
D) None of the above
Correct Answer: Loans and advances made to states
   
1075) Consider the following statements
1. Expenditure tax is a progressive tax in India.
2. Expenditure tax is levied on the expenditure incurred in the accommodation.
Which of the statements given above is/are correct?
A) Only 1
B) Only 2
C) Both 1 and 2
D) Neither 1 nor 2
Correct Answer: Both 1 and 2

1076) Which of the following statements is/are correct?
Fiscal Responsibility and Budget Management Act (FRBM) concerns
A) Fiscal deficit
B) Revenue deficit
C) Both 'a' and 'b'
D) None of these
Correct Answer: Revenue deficit
   
1077) The Interest Tax is imposed on which one the following in India?
A) Interest accrued to commercial banks on loans and advances
B) Interest accrued to states on the loans and advances made to public sectors
C) Interest accrued to India postal services on the loans and advances made to Central Government
D) None of the above
Correct Answer: Interest accrued to commercial banks on loans and advances
   
1078) In our Constitution, the term 'Budget' is used under
A) Article 112
B) Article 72
C) Schedule 5
D) No where used
Correct Answer: No where used
   
1079) Consider the following statements
1. Libor rates are calculated for ten different currencies in the world capital market.
2. Libor rates are calculated for 15 borrowing periods ranging from overnight to one year in the world capital market.
Which of the statements given above is/are correct?
A) Only 1
B) Only 2
C) Both 1 and 2
D) Neither 1 nor 2
Correct Answer: Both 1 and 2
   
1080) Which one of the following taxes in India is imposed by the Central Government on the basis of the ability to pay principle?
A) Wealth tax
B) Gift tax
C) Corporate tax
D) Income tax
Correct Answer: Income tax