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Fiscal System Of India Quiz 4 (25 MCQs)

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1. National income refers to: [CPO SI 2002]
2. Which one of the following situations makes a firm most efficient? [CDS 2002]
3. Which one of the following statements regarding the levying, collecting and distribution of Income Tax is correct? [IAS 1999]
4. National income ignores [CDS 2012]
5. The South Asian Free Trade Agreement (SAFTA) was introduced with a view of levying how much customs duty for trading any product within the SAARC zone? [RBI Grade B Officer 2011]
6. Tax collection of Central govt. was lowest as compare to G.D.P., in which of the following year?
7. Which of the following is not a method of estimating national income? [I. Tax & Central Excise 1991]
8. Fresh evalution of every item of expenditure from the very beginning of each financial year is called: [SBI PO 1991]
9. Consider the following statements regarding Fisal Policy:a. It helps to maintain the economy's growth rate so that certain economic goals can be achieved.b. It aims to achieve full employment, or near full employment, as a tool to recover from low economic activity.Which of the statements given above is/are correct?
10. Which one of the following forms the largest share of deficit in Govt. of India budget? [UP PCS 2002]
11. Economic growth is usually coupled with [CSAT 2011]
12. According to the law of demand, when:
13. To know whether the rich are getting richer and the poor getting poorer, it is necessary to compare; [IAS 1994]
14. In India, deficit financing is used for raising resources for
15. With reference to revenue deficit, consider the following statements:1. It includes only those transactions that affect current income and expenditure of government.2. It considers the current borrowing by the government.As per the FRBM Act, the government is required to reduce the revenue deficit to 3% of the GDPWhich of the statements given above is/are correct?
16. Deficit financing leads to inflation in general, but it can be checked if:
17. Which of the following is not shared by the Centre and the States?
18. When the Reserve Bank of India announces an increase of the Cash Reserve 'Ratio, what does it mean? [IAS 2010]
19. Fiscal deficit in the Union Budget means: [IAS 1994]
20. By which bill does the government make arrangement for the collection of revenues for a year?
21. Railway Budget in India was separated from general budget in :
22. Many times we see in financial journals/bulletins a term M3. What is M3? [RBI Grade B Officer 2011]
23. Which one of the following is the largest item of expenditure of the Government of India on revenue account?a) Defenceb) Subsidiesc) Pensionsd) Interest payment
24. With respect to the government expenditure in India, which of the following is / are Transfer Payments?1.The payments which are made by the government to its employees2.The payments which are made as financial aid in a social welfare programme3.The payments which are made to foreign countries and institutions as interests on loans taken in past4.The payments which are made to oil companies in lieu of the subsidiesSelect the correct option from the codes given below:
25. If the price of an inferior good falls, its demand: [CPO SI 2003]
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