Economics Quiz for SSC CGL EXAM 2017

Q1. GNP differs from NNP due to
(a) net indirect taxes
(b) direct taxes
(c) interest on public debt
(d) depreciation
Q2. The profits of India-banks operating in foreign countries are a part of
(a) income from entrepreneurship earned from abroad
(b) domestic factor income of India
(c) profits of the enterprises working in the domestic territory of India
(d) operating surplus of the banks located in India
Q3. Indirect taxes by nature are
(a) degressive
(b) regressive
(c) progressive
(d) proportional

Q4. A taxation is a tool of
(a) monetary policy
(b) fiscal policy
(c) price policy
(d) wage policy
Q5. Which one of the following is not an objective of Fiscal Policy in India?
(a) Full employment
(b) Price stability
(c) Optimum allocation of resources
(d) Regulation of international trade
                                                        
Q6. The Report of Vijay Kelkar Committee relates to
(a) trade reforms
(b) centre-state financial relations
(c) disinvestment in public sector enterprises
(d) tax reforms
Q7. Cheap money means
(a) low rates of interest
(b) low level of saving
(c) low level of income
(d) low level of standard of living
Q8. Which one of the following items is not included in the current account of India’s Balance of Payments?
(a) Short-term commercial borrowings
(b) Balance of trade
(c) Transfer payments
(d) None of these
Q9. What is referred to as ‘Depository Services’?
(a) A new scheme of fixed deposits
(b) A method for regulating stock exchanges
(c) An agency for safe keeping of securities
(d) An advisory service to investors
Q10. Which of the following is the most important domestic source of planned finance?
(a) Balance of current revenue
(b) Profit from public sector units
(c) Domestic private savings
(d) Additional taxation
Q11. Interest on public debt is part of
(a) transfer payments by the enterprises
(b) transfer payments by the government
(c) national income
(d) interest payments by households
Q12. Corporation tax is a tax imposed on
(a) the net incomes of the companies
(b) the corporate properties
(c) the utilities provided by the corporation
(d) tax imposed by the corporation on individual properties
Q13. Parallel economy emerges due to
(a) tax avoidance
(b) tax evasion
(c) tax compliance
(d) tax estimation
Q14. The tax levied on gross sales revenue from business transactions is called
(a) turnover tax
(b) sales tax
(c) capital gains tax
(d) corporation tax
Q15. A tax is characterised by horizontal equity if its liability is
(a) proportional to the income of tax payers
(b) similar for tax payers in similar circumstances
(c) proportional to the expenditure of tax payers
(d) the same for every tax payer
Solutions
S1. Ans.(d)
Sol.
S2. Ans.(a)
Sol.
S3. Ans.(b)
Sol.
S4. Ans.(b)
Sol.
S5. Ans.(d)
Sol.
S6. Ans.(d)
Sol.
S7. Ans.(a)
Sol.
S8. Ans.(d)
Sol.
S9. Ans.(c)
Sol.
S10. Ans.(c)
Sol.
S11. Ans.(b)
Sol.
S12. Ans.(a)
Sol.
S13. Ans.(b)
Sol.
S14. Ans.(a)
Sol.
S15. Ans.(a)
Sol.


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