MCQs
Total Questions : 217
| Page 6 of 22 pages
Answer: Option B. -> None of the statements (a), (b) and (c) given above is correct in his context
Answer: (b)The Commission shall make recommendations as to the following matters, namely :The distribution between the Union and the States of the net proceeds of taxes which are to be, or may be, divided between them under Chapter I Part XII of the Constitution and the allocation between the States of the respective shares of such proceeds;The principles which should govern the grants-in-aid of the revenues of the States out of the Consolidated Fund of India and the sums to be paid to the States which are in need of assistance by way of grantsin-aid of their revenues under article 275 of the Constitution for purposes other than those specified in the provisions to clause (1) of that article; andThe measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats and Municipalities in the State on the basis of the recommendations made by the Finance Commission of the State.
Answer: (b)The Commission shall make recommendations as to the following matters, namely :The distribution between the Union and the States of the net proceeds of taxes which are to be, or may be, divided between them under Chapter I Part XII of the Constitution and the allocation between the States of the respective shares of such proceeds;The principles which should govern the grants-in-aid of the revenues of the States out of the Consolidated Fund of India and the sums to be paid to the States which are in need of assistance by way of grantsin-aid of their revenues under article 275 of the Constitution for purposes other than those specified in the provisions to clause (1) of that article; andThe measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats and Municipalities in the State on the basis of the recommendations made by the Finance Commission of the State.
Answer: Option A. -> The Union levies, collects, and distributes the proceeds of income tax between itself and the states.
Answer: (a)
Answer: (a)
Answer: Option D. -> Central assistance for states and UT plans
Answer: (d)
Answer: (d)
Answer: Option A. -> 1 only
Answer: (a)Monetary policy refers to the set of measures adopted by the central bank (RBI) for monetary management
Answer: (a)Monetary policy refers to the set of measures adopted by the central bank (RBI) for monetary management
Answer: Option D. -> 4 only
Answer: (d)
Monetised deficit was adopted by India in 1997- 98. It refers to that part of the deficit for which the government borrows from the RBI.
To meet the government’s such requirements, the RBI prints fresh currency, as a result of which the economy gets monetised
Answer: (d)
Monetised deficit was adopted by India in 1997- 98. It refers to that part of the deficit for which the government borrows from the RBI.
To meet the government’s such requirements, the RBI prints fresh currency, as a result of which the economy gets monetised
Question 56. Which of the following statements is incorrect in regards to Black money?
- Hawala market has deep roots with this black money
- It is unaccounted money which is concealed from tax authorities
- All legal economic activities are dealt with this Black Money
- It puts an adverse pressure on equitable distribution of wealth and income in the economy
Answer: Option B. -> 3 only
Answer: (b)Black money deals with all illegal economic activities
Answer: (b)Black money deals with all illegal economic activities
Answer: Option B. -> 1 and 2
Answer: (b)Fiscal policy comprises of several major themes
Answer: (b)Fiscal policy comprises of several major themes
Answer: Option D. -> Insurance Policies
Answer: (d)
Government debt is the debt owed by a central government. Governments usually borrow by issuing securities, government bonds and bills. Government Bonds are often issued via auctions at Stock Exchanges.
There are two main depository types:
Book-Entry and
Certificate.
Insurance policies do not come under government debt. In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the insured, known as the policyholder, which determines the claims which the insurer is legally required to pay.
Answer: (d)
Government debt is the debt owed by a central government. Governments usually borrow by issuing securities, government bonds and bills. Government Bonds are often issued via auctions at Stock Exchanges.
There are two main depository types:
Book-Entry and
Certificate.
Insurance policies do not come under government debt. In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the insured, known as the policyholder, which determines the claims which the insurer is legally required to pay.
Answer: Option B. -> 3 only
Answer: (b)Taxation is used for mobilizing and channelizing resources for productive investment. It can also be used as a measure to promote equity and reduce disparities or to encourage or discourage consumption of particular items
Answer: (b)Taxation is used for mobilizing and channelizing resources for productive investment. It can also be used as a measure to promote equity and reduce disparities or to encourage or discourage consumption of particular items
Answer: Option A. -> an act of insuring risk
Answer: (a)
The word "underwriter" is said to have come from the practice of having each risk-taker write his or her name under the total amount of risk that he or she was willing to accept at a specified premium.
In a way, this is still true today, as new issues are usually brought to market by an underwriting syndicate in which each firm takes the responsibility (and risk) of selling its specific allotment.
Answer: (a)
The word "underwriter" is said to have come from the practice of having each risk-taker write his or her name under the total amount of risk that he or she was willing to accept at a specified premium.
In a way, this is still true today, as new issues are usually brought to market by an underwriting syndicate in which each firm takes the responsibility (and risk) of selling its specific allotment.
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