Economic MCQs with answers Page - 108

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Q. Redistribution polices geared to reduce economic inequalities include

  • (A) progressive tax policies
  • (B) land reforms
  • (C) rural development policies
  • (D) All the above

A

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Q. Short-term finance is usually for a period ranging up to

  • (A) 5 months
  • (B) 10 months
  • (C) 12 months
  • (D) 15 months

A

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Q. In India, which one among the following formulates the fiscal policy?

  • (A) Planning Commission
  • (B) Ministry of Finance
  • (C) Finance Commission
  • (D) The Reserve Bank of India

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Q. The Finance Commission makes its recommendations to

  • (A) The Finance Minister
  • (B) The Planning Commission
  • (C) The Parliament
  • (D) The President

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Q. Taxes on income, other than on agricultural income, are

  • (A) Levied and collected by the Central Government and appropriated by it
  • (B) Levied and collected by the Central Government but assigned to States within which they are leviable
  • (C) Levied and collected by the Central Government but distributed between the States and the Centre
  • (D) Levied by the Central Government but collected and appropriated by the State

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Q. The purchase of shares and bonds of Indian companies by Foreign Institutional Investors is called ?

  • (A) FDI
  • (B) NRI Investment
  • (C) Portfolio Investment
  • (D) Foreign Indirect Investment

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Q. Which sector of Indian Economy has shown remarkable expansion during the last decade

  • (A) Primary Sector
  • (B) Secondary Sector
  • (C) Tertiary Sector
  • (D) Mining Sector

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Q. The concept of Economic planning in India is derived from

  • (A) Russia
  • (B) Australia
  • (C) USA
  • (D) UK

A

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Q. Which among the following is the exclusive jurisdiction of the State Government ?

  • (A) Sales Tax
  • (B) Custom Duty
  • (C) Income Tax
  • (D) Corporation Tax

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Q. The budget deficit means

  • (A) the excess of total expenditure, including loans, net of lending over revenue receipts
  • (B) difference between revenue receipts and revenue expenditure
  • (C) difference between all receipts and all the expenditure
  • (D) fiscal deficit less interest payments

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