public finance fiscal & monetary policy section 2 Practice Questions Answers Test with Solutions & More Shortcuts

Question : 16 [SSC SO 2001]

What does a Leasing Company provide ?

a) Technical consultancy and experts for a fee

b) Legal guidance in establishing an enterprise

c) Machinery and capital equipment on hire

d) Office accommodation on hire

Question : 17

The sales tax you pay while purchasing a toothpaste is a

a) tax imposed by the Central Government

b) tax imposed and collected by the State Government

c) tax imposed by the Central Government but collected by the State Government

d) tax imposed by the State Government but collected by the Central Government

Question : 18 [SSC Tax Assistant 2007]

Which of the following taxes is not collected by the Central Government ?

a) Excise duty

b) Customs duty

c) Income tax

d) Professional tax

Question : 19

Which are the pre-requisites required by the Indian economy to implement convertibility of rupee on trade account as suggested by the Rangarajan Committee?

1. There should be comfortable foreign exchange resources
2. Low rate of inflation.
3. Mechanism by which the government can pass on the changes in the price of imported goods to the consumers
4. SLR and CRR must be low.

a) 1 and 2

b) 1 and 4

c) 1, 2 and 3

d) All of the above

Question : 20

Match columns A and B 

a) I-c, II-a, III-b, IV-d

b) I-a, II-c, III-d, IV-b

c) I-b, II-c, III-d, IV-a

d) I-d, II-c, III-d, IV-a