Indian Economy Test 60

Result

Indian Economy Test 60

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Weekly Quiz Competition

Question 1
1 / -0

Consider the following statements
1) Bank rate is the rate of interest which RBI charges its clients on their short term borrowing
2) Repo rate is the rate of interest which RBI charges its clients on their long term borrowing.
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
Question 2
1 / -0

If the RBI decides to adopt an ' expansionist' monetary policy , which of the following it would not do ?
1) Cut CRR and optimise SLR .
2) Increase MSFR (Marginal Standing Facility Rate ) .
3) Cut bank rate and increase Reserve Repo Rate.

A
1 and 2

B
Only 1

C
2 and 3

D
Only 2
Question 3
1 / -0

Consider the following taxes
1. Taxes on passenger
2. Taxes on electricity consumption
3. Entertainment tax
Which of the taxes given above are the main taxes under the commodities and services in the Indian states ?

A
1 and 2

B
1 and 3

C
2 and 3

D
All of these
Question 4
1 / -0

Which one of the following currencies is used by RBI to construct the Nominal Effective Exchange Rate (NEER)and Real Effective Exchange Rate (REER) of Indian Currency ?

A
Japanese Yen

B
Chinese Renminbi

C
Pound Sterling

D
All of the above
Question 5
1 / -0

Corporation tax is imposed by

A
State Government

B
Central Government

C
Local Government

D
State as well as Central
Question 6
1 / -0

Which one of the following deficits of the Union Government of India which includes the market borrowing and other government liabilities only ?

A
Revenue deficit

B
Budgetary deficit

C
Fiscal deficit

D
Primary deficit
Question 7
1 / -0

Who among the following is the founder of World Economic Forum?

A
Klaus Schwab

B
John Kenneth Galbraith

C
Robert Zoellick

D
Paul Krugman

Solution

Klaus Schwab is the Founder and Executive Chairman of the World Economic Forum, the International Organization for Public-Private Cooperation. He has encouraged the establishment of many communities providing global expertise and knowledge for problem-solving. He has also received numerous international and national honours.
Question 8
1 / -0

Consider the following important sources of tax revenue for the central government.
1. Corporation tax.
2. Taxes on income other than corporation tax .
3. Customs.
4. Consumer price Index for urban Non - manual employees.
Which of the above in&es is/are compiled by Central Statistical Organisation (CSO) ?

A
3 and 4

B
1, 2 and 3

C
Only 4

D
1, 2, 3 and 4
Question 9
1 / -0

Which of the following set of the canons of taxation has not been made the part of Indian tax reforms process till date? Select your answer using the codes given below
1. Equality
2. Certainity
3. Convenience
4. Economy
Codes

A
1 and 2

B
2, 3 and 4

C
1 and 3

D
1, 2, 3 and 4
Question 10
1 / -0

Human Poverty Index(HPI) developed by UNDP is based on which of the following deprivations?
$$1$$. Income deprivation
$$2$$. Literacy deprivation
$$3$$. Social services deprivation
$$4$$. Employment deprivation.
Select the correct answer using the codes given.

A
$$1, 2, 3$$ and $$4$$

B
$$1, 2$$ and $$3$$

C
$$1, 3$$ and $$4$$

D
$$2$$ and $$4$$

Solution

The Human Poverty Index (HPI) was first introduced into the Human Development Report by the United Nations Development Programme (UNDP) in 1997 in an attempt to bring together a composite index the different features of deprivation in the quality of life to arrive at an aggregate judgement on the extent of poverty in a community. The Human Poverty Index (HPI) measures deprivation in basic human development by combining basic dimensions of poverty and reveals the differences between human poverty and income poverty. It uses indicators of the most basic dimensions of deprivation, namely, a short life, lack of basic education and lack of access to public and private resources.

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Indian Economy Test 60

Result

Indian Economy Test 60

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SHARING IS CARING

Question 1

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Question 2

1 and 2

Only 1

2 and 3

Only 2

Question 3

1 and 2

1 and 3

2 and 3

All of these

Question 4

Japanese Yen

Chinese Renminbi

Pound Sterling

All of the above

Question 5

State Government

Central Government

Local Government

State as well as Central

Question 6

Revenue deficit

Budgetary deficit

Fiscal deficit

Primary deficit

Question 7

Klaus Schwab

John Kenneth Galbraith

Robert Zoellick

Paul Krugman

Solution

Question 8

3 and 4

1, 2 and 3

Only 4

1, 2, 3 and 4

Question 9

1 and 2

2, 3 and 4

1 and 3

1, 2, 3 and 4

Question 10

$$1, 2, 3$$ and $$4$$

$$1, 2$$ and $$3$$

$$1, 3$$ and $$4$$

$$2$$ and $$4$$

Solution

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