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 Indian Economy Questions

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Q:

Value added can be determined by

Answer

Value added is determined by the difference between the price of product or service and the cost of producing it.


 


Added Value = Price that the product or service is sold at - cost of producing the product.

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Subject: Indian Economy Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

1 2006
Q:

Which tax uses the same rate for all income levels?

A) Income tax B) Proportional tax
C) Both A & B D) Service tax
 
Answer & Explanation Answer: B) Proportional tax

Explanation:

Tax that uses the same rate for all income levels is proportional tax.

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Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

1 2004
Q:

A business owned by one person

A) Sole proprietorship B) Non profit
C) Limited liability D) None of the above
 
Answer & Explanation Answer: A) Sole proprietorship

Explanation:

A business owned by one person and operates for their benefits is called as Sole Proprietorship or sole trader.

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Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

3 2003
Q:

The largest expenditure component of GDP is

A) Consumption B) Net exports
C) Government spending D) Investments
 
Answer & Explanation Answer: A) Consumption

Explanation:
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Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

1 1995
Q:

The most important determinant of consumer spending is

A) consumer expectations B) the level of income
C) the level of household borrowing D) the stock of wealth
 
Answer & Explanation Answer: B) the level of income

Explanation:

The most important determinant of consumer spending is the level of income.

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Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

1 1995
Q:

Which of the following statements about taxes is false?

A) Some states don’t collect income tax B) Taxes at the local, state and federal level are all equal
C) Taxes are collected at the local, state and federal level D) Some states don’t collect sales tax
 
Answer & Explanation Answer: A) Some states don’t collect income tax

Explanation:
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Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

4 1989
Q:

The federal government debt is equal to the

A) sum of past budget deficits minus the sum of past budget surpluses B) annual difference between federal government tax revenues and outlays
C) obligations of benefits from federal taxes and expenditures D) sum of all annual federal government outlays
 
Answer & Explanation Answer: A) sum of past budget deficits minus the sum of past budget surpluses

Explanation:

The federal government debt is equal to the sum of past budget deficits minus the sum of past budget surpluses.

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Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

1 1987
Q:

According to World Economic Forum Global Gender Gap Report 2017, Indian has closed ______ percentage of its gender gap.

A) 39 B) 67
C) 53 D) 91
 
Answer & Explanation Answer: B) 67

Explanation:
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Filed Under: Indian Economy
Exam Prep: Bank Exams , CAT

2 1982