Online GK Series

This site is dedicated to the aspirants of competitive exams SSC, UPSC, Railways, Postal Assistants, Bank, GATE and NET

3,00,000 Jobs Waiting For You

Federal Finance System in India - General Knowledge Multiple Choice Questions and Answers | Page-6

51 The terms “Micro Economics” and “Macro Economics” were coined by
A J.M. Keynes
B Ranger Frisch
C Ranger Nurkse
D Alfred Marshall

Answer: Option [B]
52 The existence of a parallel economy or Black Money
A Makes the economy more competitive
B Ensures increasing productive investment
C Makes the monetary policies less effective
D Ensures a better distribution of income and wealth

Answer: Option [C]
53 Which from the following taxes are levied and collected by the centre but their net proceeds are wholly transferred to states?
A Taxes on Advertisement
B Stamps and Registration
C Expenditure Tax and Gift Tax
D Additional Duties of Excise in lieu of Sales Tax

Answer: Option [A]
54 Which from the following sets belongs to Central tax?
A Custom duty, Entertainment tax and Income tax
B Income tax, Custom duty and House tax
C Excise duty, Custom duty and Income tax
D Excise duty, Sales tax and Custom duty

Answer: Option [C]
55 Disinvestment in Public Sector is called
A Privatisation
B Industrialisation
C Globalisation
D Liberalisation

Answer: Option [A]
56 Rate of interest is determined by
A Central Government
B Commercial Banks
C Liquidity preference
D The rate of return on the capital invested

Answer: Option [B]
57 The Government set up a committee headed by the Chairman, Central Board of Direct Taxes some time back to go into-
A Codification of tax laws
B The concerns of the foreign investors in India with regard to taxation matters
C The entire structure of tax laws including the question of imposition of bank tax
D Aspects of generation of black money, its transfer abroad and bringing back such money into India’s legitimate financial system

Answer: Option [D]
58 Which from the following is a part of tertiary sector?
A Power and transportation
B Cultivation of crops
C Animal Husbandry
D Super-normal rent

Answer: Option [A]
59 A mixed economy refers to an economic system where
A Only the private sector operates under government control
B The economy functions with foreign collaboration
C Both the government and the private sectors operate sectors operate simultaneously
D No foreign investment is allowed

Answer: Option [C]
60 A Black Market is a situation wherein
A Goods are sold secretly
B Goods are loaded by the producers
C Goods are made available (sold) only after there is a rise in prices
D Goods are sold at prices higher than what is fixed by the Government

Answer: Option [A]


Important EBooks for Competitive Exams