public finance fiscal & monetary policy section 4 MCQ Questions & Answers Detailed Explanation
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The following question based on Fiscal Policy, Public Finance and Monetary Policy topic of indian economy mcq
(a) Commercial research
(b) Management research
(c) Professional research
(d) Operational research
The correct answers to the above question in:
Answer: (d)
Operational research is a discipline that deals with the application of advanced analytical methods to help make better decisions.
Employing techniques from other mathematical sciences, such as mathematical modelling, statistical analysis, and mathematical optimization, operations research arrives at optimal or near-optimal solutions to complex decision-making problems.
In a nutshell, operations research (O.R.) is the discipline of applying advanced analytical methods to help make better decisions.
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Read more public finance fiscal and monetary policy Based Indian Economy Questions and Answers
Question : 1
Who among the following has suggested tax on expenditure?
a) Gautam Mathur
b) Kaldor
c) Dalton
d) Musgrave
Answer »Answer: (b)
Nicholas Kaldor’s seminal work, titled ‘An Expenditure Tax,’ was brought out in 1955. Kaldor asked to levy a tax on a person’s expenditure (consumption), instead of on his income.
When expenditure is made the basis of taxation, the problems created by the non-comparability of various types of accruals of wealth resolve themselves. This was his major argument in favour of an expenditure tax.
Question : 2
Paraellel economy emerges due to
a) Tax Estimation
b) Tax Evasion
c) Tax Avoidance
d) Tax Compliance
Answer »Answer: (b)
A parallel economy (black economy) indicates the functioning of an unsanctioned sector in the economy whose objectives run parallel with the social objectives.
A major contributory factor to such an economy is black money which is any money that a person or an organization acquires by a means that involves tax evasion.
It is that income from illegal activities that are not reported to the government for tax purposes.
Question : 3
Which of the following subjects does not figure in the Concurrent List of our Constitution ?
a) Trade unions
b) Protection of wild animals and birds
c) Stock Exchanges and futures markets
d) Forests
Answer »Answer: (c)
The Concurrent List or List-III is a list of 47 items given in Part XI of the Constitution of India, concerned with relations between the Union and States. Stock exchanges and futures markets come under the Union List.
Question : 4
In India, disguised unemployment is generally observed in
a) All these sectors
b) the Factory sector
c) the Agricultural sector
d) the Service sector
Answer »Answer: (c)
As the word suggests, disguised unemployment refers to a situation when a person is apparently employed, but in effect unemployed. It is a phenomenon of concealed unemployment, not visible to the open eyes.
Here it is not possible to identify as to who are unemployed, as all “appear to be working.” Disguised unemployment is especially seen in the field of agriculture.
Most of the people are observed to be engaged in agriculture; however, in reality, a sufficient number of them are unemployed. Their contribution regarding production is negligible.
Question : 5
The sale proceeds of Government Bonds come under the budget head of
a) Capital Receipts
b) Current Expenditure
c) Revenue Receipts
d) Capital Outlay
Answer »Answer: (a)
Capital receipts are the funds received into the businesses that are not part of the operating activities of the establishment. Capital receipts primarily include external assistance, market loans, small savings, principal investment in bonds, and Government provident funds.
A capital receipt is a receipt that is derived from the sale or purchase of capital assets like plant and machinery, furniture, investment (long term) etc., which shall not be occurring all the time.
Question : 6
Which one of the following statements appropriately describes the ‘fiscal stimulus’?
a) It is an extreme affirmative action by the government to pursue its policy of financial inclusion
b) It is government’s intensive action of financial institutions to ensure disbursement of loans to agriculture and allied sectors to promote greater food production and contain food inflation
c) It is a massive investment by the government in manufacturing sector to ensure the supply of goods to meet the demand surge caused by rapid economic growth
d) It is an intense affirmative action of the government to boost economic activity in the country
Answer »Answer: (d)
GET Fiscal Policy, Public Finance and Monetary Policy PRACTICE TEST EXERCISES
public finance fiscal & monetary policy section 1
public finance fiscal & monetary policy section 2
public finance fiscal & monetary policy section 3
public finance fiscal & monetary policy section 4
public finance fiscal & monetary policy section 5
public finance fiscal & monetary policy section 6
public finance fiscal & monetary policy section 7
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