Discussion
Home ‣ General Knowledge ‣ Indian Economy Comments
- Question
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
- Correct Answer
- gross value tax
ExplanationGST 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.
- 1. Micro-economics is also called __________
Options- A. Profit theory
- B. Loss theory
- C. Price theory
- D. Expenditure theory Discuss
- 2. Transport comes under which sector of economic growth?
Options- A. Secondary sector
- B. Primary sector
- C. Tertiary sector
- D. Quaternary sector Discuss
- 3. 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
- 4. 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 Discuss
- 5. 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
- 6. 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
- 7. Which of the following is called GDP Deflator?
Options- A. Ratio of nominal to real GDP
- B. Ratio of nominal to real GNP
- C. Ratio of nominal to real CPI
- D. Ratio of real to nominal GNP Discuss
- 8. What does indifference curve represent?
Options- A. Levels of Income and Capital
- B. Satisfaction derived from two goods
- C. Income from two businesses
- D. Relationship between expenditure and savings Discuss
- 9. Which tax causes a burden on the poorer section of the society?
Options- A. Direct Tax
- B. Indirect Tax
- C. Both Direct and Indirect Tax
- D. None of these Discuss
- 10. In ____________, the short run equilibrium results in quantity produced being lesser and prices being higher compared to perfect competition.
Options- A. Monopsony
- B. Monopoly
- C. Oligopoly
- D. Monopolistic Competition Discuss
Indian Economy problems
Search Results
Correct Answer: Price theory
Correct Answer: Tertiary sector
Correct Answer: Mixed economy
Correct Answer: 1 and 2 only
Explanation:
Bitcoin 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.
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: Only (III)
Correct Answer: Ratio of nominal to real GDP
Correct Answer: Satisfaction derived from two goods
Correct Answer: Indirect Tax
Correct Answer: Monopolistic Competition
Comments
There are no comments.More in General Knowledge:
Programming
Copyright ©CuriousTab. All rights reserved.