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Business and Economics - General Knowledge Questions
A)
Excise Duty
B)
Custom Duty
C)
Value Added Tax
D)
Service Tax

Correct Answer : Option (B) - Custom Duty

A)
Public Account
B)
Contingency Fund of India
C)
Consolidated Fund of India
D)
Deposits and Advances Fund

Correct Answer : Option (C) - Consolidated Fund of India

The Consolidated Fund of India includes revenues, which are received by the government through taxes and expenses incurred in the form of borrowings and loans.

A)
a loan system of the World Bank
B)
one of the operations of a Central Bank
C)
a credit system granted by WTO to its members
D)
a credit system granted by IMF to its members

Correct Answer : Option (D) - a credit system granted by IMF to its members

The reserve tranche is basically an emergency account that IMF members can access at any time without agreeing to conditions or paying a service fee. In other words, a portion of a member country's quota can be withdrawn free of charge at its own discretion.

A)
18%
B)
32%
C)
28%
D)
10%

Correct Answer : Option (C) - 28%

A)
Amartya Sen
B)
Mahbub-ul-Haq
C)
Sukhamoy Chakravarty
D)
G.S. Chaddha

Correct Answer : Option (B) - Mahbub-ul-Haq

A)
Rate of inflation
B)
Poverty index
C)
Income inequality
D)
Personal income

Correct Answer : Option (C) - Income inequality

A)
the product method
B)
the expenditure method
C)
the combined method
D)
the income method

Correct Answer : Option (C) - the combined method

A)
25%
B)
33%
C)
40%
D)
50%

Correct Answer : Option (B) - 33%

A)
Loss
B)
Profit
C)
Break even
D)
All of these

Correct Answer : Option (D) - All of these

A)
ep = (((Q2- Q1) / Q1 ) / P1) X 100
B)
ep = ((Q2- Q1) / Q1 ) / ((P2 - P1) / P1)
C)
ep = (((Q2- Q1) / Q1 ) / Product) X 100
D)
ep =( (P1 - P2) / Q1 ) X ((P1+P2) / Q2)

Correct Answer : Option (B) - ep = ((Q2- Q1) / Q1 ) / ((P2 - P1) / P1)