Economics in English Quiz 2

1.The Direct Taxes Code is related to which among the following?

(A)Income Tax

(B) Sales tax

(C)Excise Duty

(D)Service tax

2.Who will be implementing the Varishtha Pension Bima Yojana scheme during financial year 2017-18?

(A)National Insurance Company Limited

(B)New India Assurance Company Limited

(C)Life Insurance of Corporation of India

(D)SBI Life Insurance Company Limited SBI

3.The demand curve for a Giffen good is

A.upward rising

B.downward falling

C.parallel to the quantity axis

D.parallel to the price axis

4.Purchasing Power Parity theory is related with

A.Interest rate

B.Bank rate

C.Wage rate

D.Exchange rate

5.Revenue-neutral rate (RNR) is a component of which of the following taxes in India?

(A)Goods and Services Tax (GST)

(B)Income tax

(C)Customs

(D)Excise duty

6.For which of the commodities the unit bpd is used in international trade?

(A)Meat & Livestock

(B)Precious Metals

(C)Industrial metals

(D)Crude oil

7.National Rural Credit Stabilization Fund is a Institution of purpose-specific funds in which of the following?

(A)IDBI

(B)SIDBI

(C)IFCI

(D)NABARD

8.The Rate at which the Reserve Bank of India discounts the Bills of Exchange of the commercial Banks is known as the following?

(A)Base Rate

(B)Repo rate

(C)Reverse Repo Rate

(D)Bank Rate

9.Which among the following committees recommended drastic changes in the present framework in Industrial sickness, The Sick Industrial Companies Act (SICA) and Board for Industrial & Financial Reconstruction (BIFR)?

(A)Narsimhamam Committee

(B)Jilani Committee

(C)PD Ojha Committee

(D)Omkar Goswami Committee

10.A rise in price of one commodity will induce a fall in demand of another commodity, then the commodities are___?

(A)Complimentary

(B)Supplementary

(C)Competing

(D)Auxiliary