FISCAL SYSTEM MCQS SET 06

FISCAL SYSTEM MCQS SET 06

51) India's progress has been reasonably satisfactory in connection with :
A) growth of per capita income
B) reduction in inequalities
C) reduction of unemployment
D) growth of GNP
Answer: growth of GNP

   
52) among Indian Economists who had done pioneering work on National Income?
A) P.N. Dhar
B) Jagdish Bhagwan
C) V.K.R.V. Rao
D) Prof. Shenoi
Answer: V.K.R.V. Rao

   
53) Who was the chairman of National Income committee ?
A) P.C. Mahalanobis
B) V.K.R.V. Rao
C) D.R. Gadgil
D) A.M. Khusro
Answer: P.C. Mahalanobis

   
54) The recommendations of the Finance Commission are :
A) binding on the government
B) not binding on the government
C) generally accepted as a matter of convention
D) accepted or rejected by the government according to the convenience
Answer: accepted or rejected by the government according to the convenience

   
55) After 1991, the Central Government implemented various far-reaching reforms in the area of taxation. This was based on the recommendations of the :
A) Wanchoo committee
B) Rajah chelliah committee
C) Raj Committee
D) Narsimhan Committee
Answer: Rajah chelliah committee


56) Development is :
A) synonymous with economic growth
B) narrower than economic growth
C) wider than economic growth
D) not related to economic growth
Answer: wider than economic growth

   
57) In the short run, a producer continues his production as long as he covers :
A) variable cost
B) fixed cost
C) average cost
D) marginal cost
Answer: fixed cost

   
58) Which is the best measure of economic growth of a country?
A) GNP
B) GDP
C) Net revenue
D) None of these
Answer: GNP

   
59) A tax Which is paid by the person on whom the tax is incident is called a :
A) direct tax
B) local tax
C) indirect tax
D) rate
Answer: direct tax

   
60) Rate of growth of an economy is measured in terms of:
A) per capita income
B) national income
C) infrastructural development
D) persons above poverty line
Answer: national income