Dear Friends,
Please find the Tuesday Economy Quiz Challenge #3.
Let us see who answers all 10 questions first and correctly.
Q.1) Fiscal Consolidation is one of the objectives of India’s economic policy. Which of the following would help in fiscal consolidation?
1. Increasing taxes
2. Getting more loans
3. Reducing subsidies
Choose the correct answer using the codes given below:
a) 1 and 2 only
b) 1 and 3 only
c) 1 only
d) 1, 2 and 3
Q.2) The Fiscal Responsibility and Budget Management Act aimed for
1. Eliminating revenue deficit and fiscal deficit
2. Giving flexibility to RBI for inflation management
Which of the above statements is/are correct?
a) 1 only
b) 2 only
c) Both 1 and 2
c) Neither 1 nor 2
Q.3) Consider the following statements regarding Index of Industrial Production (IIP):
1. It is released monthly by Central Statistical Organisation(CSO)
2. It shows the volume of Industrial activity
Which of the above statements is/are correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Q.4) Gross Capital Formation will increase if :
1. Gross domestic savings increase
2. Gross domestic consumption increases
3. GDP increases
Choose the correct answer using the codes given below:
a) 1 and 2 only
b) Either 1 or 2
c) 3 only
d) None of the above
Q.5) The WTO follows the method of “Self Selection”. This means
1. Member countries decide to which agreement they want to be a party
2. Member countries decide the rate of tariff and tariff reduction
3. Member countries decide whether they want to be in developed or developing category
Which of the above statements is/are correct?
a) 1 and 2 only
b) 1 and 3 only
c) 1 only
d) 3 only
Q.6) World Economic Outlook is a report published by
a) World Bank
b) IMF
c) OECD
d) None of the above
Q.7) How does National Rural Livelihood Mission seek to improve livelihood options of rural poor?
1. By setting up a large number of new manufacturing industries and agribusiness centres in rural areas
2. By strengthening ‘self-help’ groups and providing skill development
3. By supplying seeds, fertilizers, diesel pump sets and micro irrigation equipment free of cost to farmers
Select the correct answer by using the codes given below:
a) 1 and 2 only
b) 2 only
c) 1 and 3 only
d) 3 only
Q.8) Which of the following is/are treated as artificial currency?
a) ADR
b) GDR
c) SDR
d) Both ADR and SDR
Q.9) Consider the following actions by the government:
1. Cutting the tax rates
2. Increasing government spending
3. Abolishing the subsidies
In the context of an economic recession, which of the above actions can be considered a part of the ‘fiscal stimulus’ package?
a) 1 and 2 only
b) 2 only
c) 2 and 3 only
d) 1, 2 and 3
Q.10) Consider the following:
1. Fringe Benefit Tax
2. Securities Transaction Tax
3. Interest Tax
Which of the above taxes is/are indirect taxes?
a) 1 only
b) 1 and 2 only
c) 1, 2 and 3
d) None of the above
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