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- Question
Consider the following statements: 1. Inflation in India continued to be moderate during 2017-18 2. There was significant reduction in food inflation, particularly pulses and vegetables during the period. Which of the statements given above is/are correct?
Options- A. 1 only
- B. 2 only
- C. Both 1 and 2
- D. Neither 1 nor 2
- Correct Answer
- Both 1 and 2
ExplanationAccording to the Survey, inflation in the country continued to moderate during 2017-18 with the CPI based headline inflation averaging 3.3 per cent during the period --the lowest in the last six financial years
Retail inflation fell to a record low of 2.18% in May as prices of kitchen staples like vegetables and pulses declined sharply although there was a marginal spike in fruit rates.
- 1. Which of the following tax systems will help to reduce economic inequalities in India?
Options- A. Regressive Tax
- B. Progressive Tax
- C. Flat rate tax
- D. None of these Discuss
- 2. What is a bank rate?
Options- A. Rate at which Central bank of a country advances loans to other banks in the country
- B. Rate at which banks advance loans to the customers
- C. Rate at which banks lend among themselves
- D. Rate at which banks lend to money lenders Discuss
- 3. Trickle down theory ignores the impact of economic growth on
Options- A. Investment
- B. Savings
- C. Income distribution
- D. consumption Discuss
- 4. What will you call a system of taxation under which the poorer sections are taxed at higher rates than the richer sections?
Options- A. Progressive tax
- B. Proportional tax
- C. Regressive tax
- D. Degressive tax Discuss
- 5. If price of an article decreases from Rs. 12 to Rs. 10, quantity demanded increases from 1000 units to 1400 units. Find point elasticity of demand?
Options- A. 2.4
- B. -2
- C. -2.4
- D. 2 Discuss
- 6. In which market form, a market or an industry is dominated by a single seller?
Options- A. Oligopoly
- B. Monopoly
- C. Duopoly
- D. Monopolistic Competition Discuss
- 7. Which amongst the following is not a component of monetary policy in India?
Options- A. Repo rate
- B. Moral suasion
- C. Credit Rationing
- D. Public Debt Discuss
- 8. Which one of the following indices is now used by the Reserve Bank of India to measure the rate of inflation in India?
Options- A. NASDAQ Index
- B. BSE Index
- C. Consumer Price Index
- D. Wholesale Price Index Discuss
- 9. Which among the following is not a direct tax?
Options- A. Income tax
- B. Wealth tax
- C. Corporate tax
- D. None of these Discuss
- 10. Which among the following is not an instrument of fiscal policy?
Options- A. Taxation
- B. Public expenditure
- C. Public debt
- D. Credit Rationing Discuss
Indian Economy problems
Search Results
Correct Answer: Progressive Tax
Correct Answer: Rate at which Central bank of a country advances loans to other banks in the country
Correct Answer: Income distribution
Correct Answer: Regressive tax
Correct Answer: -2.4
Correct Answer: Monopoly
Correct Answer: Public Debt
Correct Answer: Consumer Price Index
Explanation:
The Wholesale Price Index (WPI) was main index for measurement of inflation in India till April 2014 when RBI adopted new Consumer Price Index (CPI) as the key measure of inflation.
Correct Answer: None of these
Correct Answer: Credit Rationing
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