Top 150+ Solved Fiscal System of India MCQ Questions Answer
Q. Octroi is levied and collected by:
a. Centre
b. State Government
c. local bodies
d. all the above
Q. What is meant by 'Underwriting', the term frequently used in financial sector? [Punjab & Sindh Bank 2011]
a. Under valuation of the assets.
b. The Act of taking on a risk for a fee.
c. Giving a Guarantee that a loan will not become a bad loan.
d. The act of permission to float an IPO.
Q. What is a fiscal deficit? [Punjab & Sindh Bank 2011]
a. It is a gap between the values of the exports and imports
b. It is a gap between exports and imports minus external borrowings
c. It is a gap between total expenditure and total receipts of the Govt.
d. It is a gap between total receipts minus External Borrowing
Q. Which one of the following organizations/agencies' are involved in drafting the UnionBudget of India? [Punjab & Sindh Bank 2011]
a. The Planning Commission only
b. The Comptroller and Auditor General only
c. Administrative Ministries only
d. (1) & (2) only
Q. The highest weight in the revised Whole Sale Price Index, implemented from September 2010 is given to which of the following item? [Corporation Bank PO 2011]
a. Fuel
b. Food items
c. Manufactured items
d. Primary Articles
Q. Which one of the following is the updated base for Wholesale Price Index (WPI) ? [Corporation Bank PO 2011]
a. 2002-2003
b. 2003-2004
c. 2004-2005
d. 2005-2006
Q. Under increasing returns the supply curve is [SSC (10+2) 2010]
a. positively sloped from left to right
b. negatively sloped from left to right
c. parallel to the quantity-axis
d. parallel to the price-axis
Q. Development is : [CDS 1999]
a. synonymous with economic growth
b. narrower than economic growth
c. wider than economic growth
d. not related to economic growth
Q. In the short run, a producer continues his production as long as he covers: [Asstt Grade 1992]
a. variable cost
b. fixed cost
c. average cost
d. marginal cost
Q. Invisible trade is a trade: [IAS 1992]
a. of government with public institutions
b. of the services like the bank, marine companies and shipping companies
c. of corporate and financial institutions with government
d. of government with other countries
Q. What is 'Recession'?
a. Rise in the cost of production, especially because of wage increase
b. Increase in money supply without a matching increase in production
c. Reduction in production and employment for want of sufficient demand for goods
d. None of these
Q. A Multinational is: [CDS 1991]
a. a company operating in several countries
b. a company having shareholders from more than one country
c. a company which does charitable work in poor countries
d. a company that operates only in those countries that do not have import restrictions
Q. The Indian budget includes:
a. revised estimates for the current year
b. budget estimates for the following year
c. actual figures of the preceding year
d. all of these
Q. Funds belonging to Government of India are kept in: 1. Consolidated Fund of India 2. Public Account Fund of India 3. Contingency Fund of India
a. 1 and 2
b. 2 and 3
c. 1 and 3
d. 1, 2 and 3
Q. A deflator is a technique of: [IAS 1992]
a. adjusting for changes in price level
b. adjusting for change in commodity
c. accounting for higher increase of GNP
d. accounting for decline of GNP