Federal Finance System in India - General Knowledge Multiple Choice Questions and Answers | Page-5

41 Which of the following is the classification of Industries on the basis of raw-materials?
A Basics and Consumer
B Primary and Secondary
C Small Scale – Large scale
D Agro-based and Mineral based

Answer: Option [D]
42 Which is the most essential function of an entrepreneur?
A Risk bearing
B Marketing
C Management
D Supervision

Answer: Option [A]
43 Excise duty on a commodity is payable with reference to its
A Production
B Production and sale
C Production and transportation
D Production, transportation and sale

Answer: Option [A]
44 Purchasing Power Parity theory is related with
A Wage rate
B Bank rate
C Exchange rate
D Interest rate

Answer: Option [C]
45 Which of the following taxes is not collected by the Central Government?
A Excise duty
B Professional tax
C Income tax
D Customs duty

Answer: Option [B]
46 Which one of the following is a developmental expenditure?
A Grant-in-aid
B Debt services
C Civil administration
D Irrigation expenditure

Answer: Option [D]
47 “Interest is a reward for parting with liquidity” is according to
A Marshall
B Keynes
C Ohlin
D Haberler

Answer: Option [B]
48 Surplus earned by a factor other than land in the short period of referred to as
A Quasi-rent
B Net rent
C Economic rent
D Super-normal rent

Answer: Option [A]
49 Which from the following is not true when the interest rate in the economy goes up?
A Lending decreases
B Saving increases
C Return on capital increases
D Cost of production increases

Answer: Option [C]
50 At present, India is following
A Fixed exchange rate
B Floating exchange rate
C Pegged up exchange rate
D Pegged down exchange rate

Answer: Option [B]

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