Join our Telegram Channel

8000+ STATIC GK MCQs for SSC/ Railway/ PSC
1000 POLITICAL SCIENCE MCQS | EBook
Get 22 nos. GK EBooks | Combo Pack
Current Affairs Monthly Magazine -Subscribe Now!
1000 BIOLOGY MCQS AND ANSWERS | EBook
1000 ECONOMICS MCQS FOR EXAMS | EBook
Mughal Empire MCQs | EBook
ECONOMIC GEOGRAPHY MCQs | EBook
350 MCQs ON INDIAN CONSTITUTION | EBook

Federal Finance System in India - General Knowledge Multiple Choice Questions and Answers | Page-8

Questions
71 Freeing the economy from all unnecessary controls and regulations is referred to as
A Freedom
B Liberalisation
C Globalisation
D Privatisation

Answer: Option [B]
72 The incidence of Tax refers to
A Who pays the Tax?
B How Taxes can be shifted?
C Who bears the burden of Tax?
D Who transfers the Tax burden?

Answer: Option [C]
Advertisement
73 Economic rent does not arise when the supply of a factor unit is
A Perfectly elastic
B Perfectly inelastic
C Relatively elastic
D Relatively inelastic

Answer: Option [A]
74 If the main objective of the government is to raise revenue, it should tax commodities with
A High elasticity of demand
B Low elasticity of demand
C Low elasticity of supply
D High income elasticity of demand

Answer: Option [B]
75 Economic growth is dependent mainly on
A Price stability
B Population growth
C Level of consumption
D Level of investment

Answer: Option [D]
76 Interest paid by the government on the loans raised is called
A Debt Servicing
B Bridge-loan
C Deficit Financing
D Discounted Budgeting

Answer: Option [A]
77 Who said, “Economics is the Science of Wealth”?
A Keynes
B Adam Smith
C J.S. Mill
D Robbins

Answer: Option [B]
78 Value of output and value added can be distinguished if we know:
A The value of the sales
B The value of net indirect taxes
C The value of intermediate consumption
D The value of consumption of fixed capital

Answer: Option [C]
79 Which one of the following is not a ‘cannot of taxation’ according to Adam Smith?
A Canon of simplicity
B Canon of certainty
C Canon of economy
D Canon of convenience

Answer: Option [A]
80 Indirect taxes by nature are
A Proportional
B Progressive
C Regressive
D Degressive

Answer: Option [C]
Advertisement

Read More Economics Solved Questions

Chapters

current affairs 2022 pdf plan

Current Affairs MCQs

Current Affairs Quiz September 2022
Current Affairs Quiz August 2022
Current Affairs Quiz July 2022
Current Affairs Quiz June 2022
Current Affairs Quiz May 2022
Current Affairs Quiz April 2022
Current Affairs Quiz March 2022
Current Affairs Quiz February 2022
Current Affairs Quiz November 2021
Current Affairs Quiz October 2021
Current Affairs Quiz September 2021
Current Affairs Quiz August 2021

State-wise Current Affairs

Andhra Pradesh Current Affairs
Arunachal Pradesh Current Affairs
Assam Current Affairs
Bihar Current Affairs
Chhattisgarh Current Affairs
Delhi Current Affairs
Goa Current Affairs
Gujarat Current Affairs
Haryana Current Affairs
Himachal Pradesh Current Affairs
Jammu & Kashmir Current Affairs
Jharkhand Current Affairs
Karnataka Current Affairs
Kerala Current Affairs
Madhya Pradesh Current Affairs
Maharashtra Current Affairs
Manipur Current Affairs
Meghalaya Current Affairs
Mizoram Current Affairs
Nagaland Current Affairs
Odisha Current Affairs
Puducherry Current Affairs
Punjab Current Affairs
Rajasthan Current Affairs
Sikkim Current Affairs
Tamil Nadu Current Affairs
Telangana Current Affairs
Tripura Current Affairs
Uttarakhand Current Affairs
Uttar Pradesh Current Affairs
West Bengal Current Affairs

General Knowledge

Geography Quiz
Political Science GK MCQs
Indian Economy Quiz
Indian History MCQs
Law General Knowledge
Physics Quiz
GST Multiple Choice Questions
Environmental Science GK

Month-wise Current Affairs 2022

September 2022
August 2022
July 2022
June 2022
May 2022
April 2022
March 2022
February 2022

Category-wise Current Affairs

Agriculture Current Affairs
Art & Culture Current Affairs
Awards & Prizes Current Affairs
Bank Current Affairs
Bill & Acts Current Affairs
Committees and Commissions Current Affairs
Memorandum of Understanding Current Affairs
Days & Events Current Affairs
Economic Survey 2020-21 Currrent Affairs
Environment Current Affairs
Festivals Current Affairs
Finance Current Affairs
Health Current Affairs
History Current Affairs
Indian Polity Current Affairs
International Relationship Current Affairs
NITI Aayog Current Affairs
Science & Technology Current Affairs
Sports Current Affairs
Union Budget 2021 Current Affairs

Jobs by Qualification

8th Pass Jobs
10th Pass Jobs
12th Pass Jobs
BCA Pass Jobs
B.Com Pass Jobs
B.Ed Pass Jobs
B.Sc Pass Jobs
B.tech Pass Jobs
LLB Pass Jobs
M.Com Pass Jobs
M.Sc Pass Jobs
M.Tech Jobs
MCA Pass Jobs
MA Pass Jobs
MBBS Pass Jobs
MBA Pass Jobs

Free Mock Test

Current Affairs Mock Test
IBPS Exam Mock Test
Indian History Mock Test
Political Science Mock Test
RBI Mock Test
RBI Assistant Mock Test
RBI Grade B General Awareness Mock Test
RRB NTPC General Awareness Mock Test
SBI Mock Test
SBI PO Mock Test
SSC Mock Test
SSC General Awareness Mock Test