Tuesday Economy Quiz #16

tuesday

Hello Everyone,

Here are 7 questions on Indian Economy, Please answer them and check how you fare. Answers will be uploadead today at 5:00 pm.

[Questions]

Q.1 Consider the following statements

1. A subsidy reduces costs for the consumer

2. A subsidy reduces costs for the producer

Select the correct statements from the codes given below:

a) 1 only

b) 2 only

c) Both 1 and 2

d) Neither 1 nor 2

 

Q.2 Which of the following are referred to as the Qualitative tools of Monetary Policy?

1. Consumer Credit Regulation.

2. Selective Credit Control.

3. Open Market Operations.

4. Moral Suasion.

Select the correct options using the code given below:

a) 1 and 2 only

b) 1, 3 and 4 only

c) 1, 2 and 4 only

d) 1, 2, 3 and 4

 

Q3. Consider the following statements regarding Dispute Settlement Board (DSB) of WTO:

1. The General Council of WTO acts like a Dispute Settlement Board.

2. DSB takes up the dispute only after 60 days of time is given to the disputants to resolve the dispute among themselves

3. Its decision is final and cannot be challenged

4. It does not pronounce any specific punishment if, after ruling, the erring nation does not rectify the issues.

 

Which of the following statements given above is/are correct?

a) 1 and 2 only

b) 1, 2 and 4 only

c) 1, 3 and 4 only

d) 2 and 3 only

 

Q.4 Special 301 report which was recently in the news is related to

a) Drug Pricing Policy

b) Ranking of higher education institutions

c) List of countries with weak Intellectual Property Rights

d) Measures taken by G-33 countries in WTO

 

Q.5 Which among the following factors has contributed the most in India’s higher growth during the current year:

a) Private consumption

b) Public consumption

c) Exports

d) Imports

 

Q.6) Which of the following tax falls under the ambit of direct taxes?

a) Service Tax

b) Custom Duties

c) Minimum Alternate tax

d) None of these

 

Q.7 Which of the following are the components of macro-economic vulnerability index?

1. Fiscal deficit

2. Current Account deficit

3. Index of industrial production

Select the correct answer using the codes given below:

a) 1 and 3 only
b) 1 only
c) 1 and 2 only
d) 1, 2 and 3

Comments

24 responses to “Tuesday Economy Quiz #16”

  1. sourabhshetty Avatar
    sourabhshetty

    1C
    2C
    4C
    5B
    6B

  2. Raunak Vashisht Avatar
    Raunak Vashisht

    MAT is an alternate to Income Tax for companies earning profit yet not paying income taxes due to various exemptions in the Income tax act 1961….STT is a tax on sale/purchase of securities via a stock exchange – both of them are direct taxes

  3. Vijay Karthik Avatar
    Vijay Karthik

    Yes. the same but also reading new things simultaneously. School habit.

  4. Rudrani M Avatar
    Rudrani M

    Revising.. It’s much needed.. What about you?

  5. Vijay Karthik Avatar
    Vijay Karthik

    How is ur preparation ?

  6. Rudrani M Avatar
    Rudrani M

    You were right 🙂

  7. Vijay Karthik Avatar
    Vijay Karthik

    Rudrani; answer keys are out.

  8. Saurav Suman Avatar
    Saurav Suman

    Sir have faith in yourself. Dont be bothered by what others say. Its a game which you must play all alone. MAT is a direct tax. Thnx

  9. Nitesh Mishra Avatar
    Nitesh Mishra

    1. C
    2. C
    3. A
    4. C
    5. B
    6. D
    7. C

  10. Vijay Karthik Avatar
    Vijay Karthik

    security transaction tax is also a direct tax.

  11. Vijay Karthik Avatar
    Vijay Karthik

    please share that link.

  12. Vijay Karthik Avatar
    Vijay Karthik

    I know what it means and that’s why i said it is a direct tax. It is imposed on the income of corporate companies.

  13. Rudrani M Avatar
    Rudrani M

    Got this for you from internet source, hope this helps to clear your doubt…

    ALL TAXES WHICH ARE THE PERSONAL LIABILITY OF AN ASSESSEE COMES UNDER DIRECT. IT INCLUDES, INCOME TAX, PROFESSIONAL TAX, WEALTH TAX, SECURITIES TRANSACTION TAX, COMMODITY TRANSACTION TAX AND THE LIKE……

    ON THE OTHER HAND, THE TAXES WHICH A PERSON CAN RECOVER FROM SOME OTHER PERSON BUT THE LIABILITY OF WHICH REMAINS OF THE PERSON COLLECTING SUCH TAXES ARE INDIRECT TAXES. THESE ARE CUSTOM DUTY, EXCISE, SERVICE TAX, VAT, CST AND THE LIKE……

  14. Rudrani M Avatar
    Rudrani M

    Yes that’s a typo.. Typing from phone is difficult

  15. Vijay Karthik Avatar
    Vijay Karthik

    I think the answer for 6th question is C

  16. Vijay Karthik Avatar
    Vijay Karthik

    I think the answer for 6th question is C

  17. Atul Das Avatar
    Atul Das

    C C A C B C C

  18. 1- C
    2- C
    3- A
    4- C
    5- B
    6- D
    7- C

  19. Gautam Himanshu Avatar
    Gautam Himanshu

    1. A
    2. C
    3. B
    4. C
    5. B
    6. C
    7. C

  20. Checkmate Avatar
    Checkmate

    1 C
    2 C
    3 A
    4 C
    5 D
    6 C
    7 C

  21. kingka2 Avatar
    kingka2

    C,C,C,C,B,C,C

  22. Rudrani M Avatar
    Rudrani M

    1. C
    2. C
    3. D
    4. C
    5. B
    6. D
    7. C

  23. Yernaidu Madena Avatar
    Yernaidu Madena

    a d c c d d d

  24. Last Bench Avatar
    Last Bench

    1c, 2c, 3b, 4c, 5b, 6d, 7c.

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