Online GK Series

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

Indian Fiscal System General Awareness Multiple Choice Questions and Answers | Page-2

Questions
11 Fiscal Responsibility and Budget Management Act (FRBMA) ACT 2003 concerns :
A fiscal deficit only
B revenue deficit only
C both fiscal and revenue deficit
D neither fiscal nor revenue deficit

Answer: Option [C]
12 The temporary tax levied to obtain additional revenue is called :
A cess
B rate
C fee
D surcharge

Answer: Option [D]
13 What are the two main attributes of a formal organization ?
A esteern and prestige
B role and duties
C dominance and supremacy
D rules and regulations

Answer: Option [D]
14 Which is correct with respect to the following ?

If the price of an inferior good falls, its demand :

A rises
B falls
C remains constant
D can be any of the above

Answer: Option [C]
15 The existence of a Parallel Economy or Black Money :
A makes the economy more competitive
B makes the monetary policies less effective
C ensures a better distribution of income and wealth
D ensures increasing productive investment

Answer: Option [B]
16 The cause of low per capita income in India is :
A of population growth
B of price rise
C more people are in rural areas
D of regional imbalances

Answer: Option [A]
17 Which among the following formulates fiscal policy ?
A RBI
B Finance Ministry
C President
D Planning Commission

Answer: Option [B]
18 Dear Money Policy relates to :
A high price level
B large money supply
C high production
D high interest rate

Answer: Option [D]
19 One of the problem in calculating the national income in India correctly is :
A under-er-employment
B inflation
C non-monetised consumption
D low saving

Answer: Option [C]
20 Companies pay Corporation Tax on their :
A investment
B production
C sales proceeds
D incomes

Answer: Option [D]

Chapters

Please Like Us
Brand