UPSC Level 2 Economics Pre Quiz #6

Hemant Bhatt is a B. Tech from Pantnagar University and has studied Social Sciences at SciencesPo, Paris. He teaches at Oracle IAS, Dehradun.
He is a bibliophile and a fitness enthusiast.

#1. Which among the following is / are indirect taxes levied by Centre and state? 1. Excise 2. Custom 3. Service tax 4. Property tax 5. Income tax Choose the correct option from the codes given below:

1 and 2

1, 2 and 3

3 and 4

1, 2, 3 and 4

#2. Consider the following statements with regard to Statutory Liquidity Ratio (SLR) 1. To meet SLR, Commercial banks can use cash only. 2. SLR is maintained by the banks with themselves. 3. SLR restricts the banks leverage in pumping more money into the economy. Which of the statements given above is/are correct?

1, 2 and 3

1 and 3

2 and 3

only 2

#3. Which among the following taxes is not levied in India:

Capital gains tax

Dividend distribution tax

Minimum alternative tax

Estate duty

#4. Consider the following statements: 1. Micro, small and medium enterprises (MSME) sector contributes about 40 per cent in the India’s total exports. 2. Micro, small and medium enterprises (MSME) sector contributes about 15 per cent to India’s gross domestic product (GDP). Which of the statements given above is/are correct?

1 only

2 only

1 and 2

None

#5. Consider the following statements regarding fscal policy: 1. Contractionary fscal policy involves government spending exceeding tax revenue. 2. Expansionary fiscal policy occurs when government spending is lower than tax revenue. Which of the statements given above is/are correct?

1 only

2 only

1 and 2 both

None

#6. Consider the following statements: 1. Kelkar Committee is associated to oil and gas. 2. Kelkar Committee has to prepare a roadmap for enhancing import of oil and gas. Which of the statements given above is/are correct?

1 only

2 only

1 and 2

None

#7. When RBI announces an increase in Cash Reserve Ratio (CRR) it means:

The commercial banks will have less money to lend.

The RBI will have less money to lend.

The Union Government will have less money to lend.

The commercial banks will have more money to lend.

#8. At present, India is world’s biggest exporter of which among the following commodities? 1. Tea 2. Coffee 3. Sugar 4. Guar gum Choose the correct option from the codes given below:

1 only

1 and 3

3 and 4

4 only

#9. Fiscal Policy in India is formulated by?

the Reserve Bank of India

the Planning Commission

the Finance Ministry

the Securities and Exchange Board of India

#10. Consider the following : 1.Income tax 2. Fringe tax 3. Interest tax 4. Security transaction tax (STT) Which of the above mentioned taxes are direct taxes?

1 and 2

2 and 3

1, 2 and 3

1, 2, 3 and 4

Finish

UPSC prelims online quiz

Contact us for:-

IAS coaching in Dehradun (Uttarakhand)
UKPCS/UPPCS coaching in Dehradun (Uttarakhand)
Current Affairsclasses in Dehradun (Uttarakhand)
For getting detailed feedback on your answers and improve answer writing
Phone Number:–9997453844

Author
Recent Posts

Hemant Bhatt

Chief Mentor at Oracle IAS

Hemant Bhatt is a B. Tech from Pantnagar University and has studied Social Sciences at SciencesPo, Paris. He teaches at Oracle IAS, Dehradun.
He is a bibliophile and a fitness enthusiast.