MCQs
Total Questions : 217
| Page 2 of 22 pages
Answer: Option B. -> Who bears the burden of Tax ?
Answer: (b)In economics, tax incidence is the analysis of the effect of a particular tax on the distribution of economic welfare. Tax incidence is said to "fall" upon the group that ultimately bears the burden of, or ultimately has to pay, the tax.
Answer: (b)In economics, tax incidence is the analysis of the effect of a particular tax on the distribution of economic welfare. Tax incidence is said to "fall" upon the group that ultimately bears the burden of, or ultimately has to pay, the tax.
Answer: Option D. -> 1, 2 and 3
Answer: (d)
Primary deficit is fiscal deficit minus interest payments. India started using this term in 1997- 98.
Primary deficit is considered a very useful tool in helping bring more transparency in the government’s pattern of expenditure. It shows the current state of government finances.
If interest payments are deducted from a fiscal deficit, then it will obviously show a lesser deficit for that year as the interest payments are on account of loans taken in the past and not in the present year
Answer: (d)
Primary deficit is fiscal deficit minus interest payments. India started using this term in 1997- 98.
Primary deficit is considered a very useful tool in helping bring more transparency in the government’s pattern of expenditure. It shows the current state of government finances.
If interest payments are deducted from a fiscal deficit, then it will obviously show a lesser deficit for that year as the interest payments are on account of loans taken in the past and not in the present year
Answer: Option D. -> the policy regarding taxation and expenditure
Answer: (d)
Answer: (d)
Answer: Option B. -> 2 only
Answer: (b)The Reserve Bank of India is the nodal agency for implementing the monetary policy. RBI has defined its monetary policy in terms of “adequate financing of economic growth and at the same time ensuring reasonable price stability”.
Answer: (b)The Reserve Bank of India is the nodal agency for implementing the monetary policy. RBI has defined its monetary policy in terms of “adequate financing of economic growth and at the same time ensuring reasonable price stability”.
Answer: Option B. -> State as well as Central Government
Answer: (b)
Corporation Tax is imposed by State as well as Central Government. Corporation tax is imposed on the income or capital of some types of legal entities. The taxes may also be referred to as income tax.
Answer: (b)
Corporation Tax is imposed by State as well as Central Government. Corporation tax is imposed on the income or capital of some types of legal entities. The taxes may also be referred to as income tax.
Question 16. Which among the following statements is incorrect in regards to the Statutory liquid ratio?
- Statutory liquid ratio refers to the amount that the commercial banks require to maintain in the form of cash, or gold or govt. approved securities before providing credit to the customers
- Statutory liquid ratio is determined and maintained by RBI in order to control the expansion of bank credit
- At present, the SLR is 4%
- It is determined as percentage total demand and percentage of time liabilities
Answer: Option B. -> 3 only
Answer: (b)
At present, the SLR is 18.00%
Answer: (b)
At present, the SLR is 18.00%
Question 17. Which of the following is /are among the noticeable features of the recommendations of the Thirteenth Finance Commission?
Select the correct answer using the codes given below
- A design for the Goods and Services Tax, and a compensation package linked to adherence to the proposed design.
- A design for the creation of lakhs of jobs in the next ten years in consonance with India’s demographic dividend.
- Devolution of a specified share of central taxes to local bodies as grants.
Select the correct answer using the codes given below
Answer: Option A. -> 1 only
Answer: (a)
A design for the Goods and Services Tax, and a compensation package linked to adherence to the proposed design
Answer: (a)
A design for the Goods and Services Tax, and a compensation package linked to adherence to the proposed design
Answer: Option D. -> borrowed by its government from abroad
Answer: (d)
External debt (or foreign debt) is that part of the total debt in a country that is owed to creditors outside the country. The debtors can be the government, corporations or private households.
The debt includes money owed to private commercial banks, other governments, or international financial institutions such as the International Monetary Fund (IMF) and World Bank.
Answer: (d)
External debt (or foreign debt) is that part of the total debt in a country that is owed to creditors outside the country. The debtors can be the government, corporations or private households.
The debt includes money owed to private commercial banks, other governments, or international financial institutions such as the International Monetary Fund (IMF) and World Bank.
Answer: Option D. -> quickly and easily marketable
Answer: (d)
Liquid Asset is an asset that can be converted into cash quickly and with minimal impact on the price received. In a liquid market, assets can be easily converted without considerable price fluctuation, and with a minimal decline in worth.
A liquid market is a type of market that possesses a high level of stability, and low spreads between asking and selling prices. Securities issued by the Government are considered risk-free, and as such, their yields are often used as the benchmarks for fixed-income securities with the same maturities.
The government securities market constitutes a key segment of the financial market, heavily traded offering virtual credit risk-free highly liquid financial instruments, which market participants are more willing to transact and take positions.
Answer: (d)
Liquid Asset is an asset that can be converted into cash quickly and with minimal impact on the price received. In a liquid market, assets can be easily converted without considerable price fluctuation, and with a minimal decline in worth.
A liquid market is a type of market that possesses a high level of stability, and low spreads between asking and selling prices. Securities issued by the Government are considered risk-free, and as such, their yields are often used as the benchmarks for fixed-income securities with the same maturities.
The government securities market constitutes a key segment of the financial market, heavily traded offering virtual credit risk-free highly liquid financial instruments, which market participants are more willing to transact and take positions.
Answer: Option B. -> Both the current account and capital account
Answer: (b)
Answer: (b)
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