Indian Economy Test 60

Result

Indian Economy Test 60

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Weekly Quiz Competition

Question 1
1 / -0

If all the banks in an economy are nationalized and converted into monopoly banks , the total deposits ______________.

A
will decrease

B
will increase

C
Neither increase nor decrease

D
None of the above

Solution

Because the created bank will function in monopoly and will try giving no impetus to increase the savings done by the depositors.
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

Service tax in India was introduced in the year

A
1994-95

B
1996-97

C
1998-99

D
1991-92
Question 9
1 / -0

Select the correct statement/ statements related to the Central Sales Tax (CST) and the VAT (Value Added Tax) from the list given below, using the codes
1. CST is a destination based tax of the centre while VAT is an origin based tax of the states.
2. CST is inconsistent with the VAT .
3. CST is a cascading type tax not rebatable against the VAT.
Codes

A
Only 1

B
1 and 3

C
Only 3

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

Which one among the following is not a source of tax revenue for the central government in India ?

A
Income tax

B
Customs duties

C
Service tax

D
Motor vehicle tax

Solution

Motor Vehicle tax is not a source of tax revenue for the Central Government in India. It is type of revenue part of State tax.
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Re-Attempt Weekly Quiz Competition

Indian Economy Test 60

Result

Indian Economy Test 60

Score

-

Rank

-

SHARING IS CARING

Question 1

will decrease

will increase

Neither increase nor decrease

None of the above

Solution

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

1994-95

1996-97

1998-99

1991-92

Question 9

Only 1

1 and 3

Only 3

1, 2 and 3

Question 10

Income tax

Customs duties

Service tax

Motor vehicle tax

Solution

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