FISCAL SYSTEM MCQS SET 24

FISCAL SYSTEM MCQS SET 24

231) Which of the following schemes was intended to tap the black money?
A) SBI Deposit Scheme
B) UTI Bonds
C) Long term Operations Scheme
D) India Development Bonds
Answer: India Development Bonds

   
232) According to the law of demand, when:
A) price increases demand decreases
B) price decreases demand decreases
C) price increases demand increases
D) price decreases demand does not change
Answer: price increases demand decreases

   
233) Which one of the following situations makes a firm most efficient?
A) Falling average costs
B) Rising average costs
C) Constant average costs
D) Lowest average costs
Answer: Lowest average costs

   
234) Octroi is levied and collected by:
A) Centre
B) State Government
C) local bodies
D) all the above
Answer: local bodies

   
235) What is meant by 'Underwriting', the term frequently used in financial sector?
A) Under valuation of the assets.
B) The Act of taking on a risk for a fee.
C) Giving a Guarantee that a loan will not become a bad loan.
D) The act of permission to float an IPO.
Answer: Under valuation of the assets.


236) What is a fiscal deficit?
A) It is a gap between the values of the exports and imports
B) It is a gap between exports and imports minus external borrowings
C) It is a gap between total expenditure and total receipts of the Govt.
D) It is a gap between total receipts minus External Borrowing
Answer: It is a gap between total expenditure and total receipts of the Govt.

   
237) Which one of the following organizations/agencies' are involved in drafting the Union
Budget of India?
A) The Planning Commission only
B) The Comptroller and Auditor General only
C) Administrative Ministries only
D) All (1),(2)&(3)
Answer: Administrative Ministries only

   
238) The highest weight in the revised Whole Sale Price Index, implemented from September
2010 is given to which of the following item?
A) Fuel
B) Food items
C) Manufactured items
D) Primary Articles
Answer: Food items

   
239) Which one of the following is the updated base for Wholesale Price Index (WPI) ?
A) 2002-2003
B) 2003-2004
C) 2011-2012
D) 2006-2007
Answer: 2011-2012

   
240) Under increasing returns the supply curve is
A) positively sloped from left to right
B) negatively sloped from left to right
C) parallel to the quantity-axis
D) parallel to the price-axis
Answer: positively sloped from left to right