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- Question
Which of the following statements about Bitcoin is/are correct? 1.It is a decentralized virtual currency. 2.It is generated through complex computer software systems. 3.The Reserve Bank of India recognized it as a legal tender in January 2016. Select the correct answer using the code given below.
Options- A. 1 only
- B. 1 and 2 only
- C. 2 and 3 only
- D. 1, 2 and 3
- Correct Answer
- 1 and 2 only
ExplanationBitcoin is the world's first cryptocurrency, a form of electronic cash.It is the first decentralized digital currency: the system was designed to work without acentral bankor single administrator.Bitcoins are sent from user to user on the peer-to-peer bitcoin network directly, without the need for intermediaries. These transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a block chain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto. Bitcoins are not recognised as a legal tender by Reserve Bank of India.
- 1. Which one of the following is not a component of Revenue Receipts of the Union Government?
Options- A. Corporate tax receipts
- B. Dividends and profits
- C. Disinvestment receipts
- D. Interest receipts Discuss
- 2. Medium term loans are provided for a period of _____.
Options- A. 1 year to 2 years
- B. 15 months to 3 years
- C. 15 months to 4 years
- D. 1 year to 3 years Discuss
- 3. Which of the following rate is charged by banks to their most credit worthy customers?
Options- A. Prime Lending Rate
- B. Statutory Liquidity Rate
- C. Bank Rate
- D. Repo Rate Discuss
- 4. HDI is an aggregate measure of progress in which of the three dimensions?
Options- A. Health, Education, Income
- B. Food Security, Employment, Income
- C. Agriculture, Industry, Services
- D. Height, Weight, Colour Discuss
- 5. Which of the following taxes is levied by the State Government only?
Options- A. Wealth tax
- B. Entertainment tax
- C. Income tax
- D. Gift tax Discuss
- 6. An economic system combining private and state enterprise is called as _____
Options- A. Market economy
- B. Centrally planned economy
- C. Private economy
- D. Mixed economy Discuss
- 7. Transport comes under which sector of economic growth?
Options- A. Secondary sector
- B. Primary sector
- C. Tertiary sector
- D. Quaternary sector Discuss
- 8. Micro-economics is also called __________
Options- A. Profit theory
- B. Loss theory
- C. Price theory
- D. Expenditure theory Discuss
- 9. Goods and Services Tax likely to be levied in India is not a
Options- A. gross value tax
- B. value-added tax
- C. consumption tax
- D. destination-based tax Discuss
- 10. Which of the following equation is/are INCORRECT? I. NI = NDP + Net Foreign Income II. GNP = GDP + Net Foreign Income III. NDP = GNP ? Depreciation
Options- A. Only (I) and (II)
- B. Only (III)
- C. Only (II) and (III)
- D. Only (II) Discuss
Indian Economy problems
Search Results
Correct Answer: Disinvestment receipts
Explanation:
Revenue receipts are regular source of Government of India, but Disinvestment receipts are not regular source of Income of Government and all other given are regular
Correct Answer: 1 year to 3 years
Correct Answer: Prime Lending Rate
Correct Answer: Health, Education, Income
Correct Answer: Entertainment tax
Correct Answer: Mixed economy
Correct Answer: Tertiary sector
Correct Answer: Price theory
Correct Answer: gross value tax
Explanation:
GST is a destination-based tax, it means end users consuming any goods or services is liable to pay the Goods and Services Tax. The tax is collected by the State in which the goods or services are consumed and not by the state in which goods are manufactured and If there are exports, the seller of the goods or services is exempted from paying the tax. GST is a consumption-based tax, it means the state where the goods were consumed will receive GST and where goods were sold should not get any taxes.GST is a value added tax as it is based on the increase in value of a product or service at each stage of production or distribution.GST is not gross value tax.
Correct Answer: Only (III)
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