1. Which one of the following best
describes the term "Merchant Discount Rate" sometimes seen in the news ?
(a) The incentive is given by a bank to a
merchant for accepting payments through debit cards pertaining to that bank.
( b) The amount paid back by banks to their customers when they use debit cards for financial transactions for purchasing goods or services.
(c) The charge to a merchant by a bank for accepting payments from his customers through the bank's debit cards.
(d) The incentive is given by the Government, to merchants for promoting digital payments by their customers through Point of Sale (PoS) machines and debit cards.
( b) The amount paid back by banks to their customers when they use debit cards for financial transactions for purchasing goods or services.
(c) The charge to a merchant by a bank for accepting payments from his customers through the bank's debit cards.
(d) The incentive is given by the Government, to merchants for promoting digital payments by their customers through Point of Sale (PoS) machines and debit cards.
Answer.c
2. With reference to India's decision to
levy an equalization tax of 6% on online advertisement services offered by
non-resident entities, which of the following statements is/are correct?
1. It is introduced as a part of the
Income Tax Act.
2. Non-resident entities that offer advertisement services in India can claim a tax credit in their home country under the "Double Taxation Avoidance Agreements".
Select the correct answer using the code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
2. Non-resident entities that offer advertisement services in India can claim a tax credit in their home country under the "Double Taxation Avoidance Agreements".
Select the correct answer using the code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer.a
3. Consider the following statements
1. The Fiscal Responsibility and Budget
Management (FRBM) Review Committee Report has recommended a debt to GDP ratio
of 60% for the general (combined) government by 2023, comprising 40% for the
Central Government and 20% for the State Governments.
2. The Central Government has domestic liabilities of 21% of GDP as compared to that of the war of GDP of the State 2 Governments.
3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.
2. The Central Government has domestic liabilities of 21% of GDP as compared to that of the war of GDP of the State 2 Governments.
3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.
Which of the statements given above
is/are correct?
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer.c
4. Consider the following statements
1. The quantity of imported edible oils is more than the domestic production of
edible oils in the last five years.
2. The Government does not impose any customs duty on all the imported edible
oils a special case.
Which of the two statements given above is/are correct
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
1. The quantity of imported edible oils is more than the domestic production of
edible oils in the last five years.
2. The Government does not impose any customs duty on all the imported edible
oils a special case.
Which of the two statements given above is/are correct
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer.a
5. Which one of the following links all the
ATMs in India?
(a) Indian banks' Association
(b) National Securities Depository Limited
(c) National Payments Corporation of India
(d) Reserve Bank of India
(b) National Securities Depository Limited
(c) National Payments Corporation of India
(d) Reserve Bank of India
Answer.c
6. Which one of the following statements
correctly describes the meaning of legal tender money?
(a) The money which is tendered in
courts of law to defray the fee of legal cases
(b) The money which a creditor is under compulsion to accept in settlement of his claims
(c) The bank money in the form of cheques, drafts, bills of exchange, etc.
(d) The metallic money in circulation in a country
(b) The money which a creditor is under compulsion to accept in settlement of his claims
(c) The bank money in the form of cheques, drafts, bills of exchange, etc.
(d) The metallic money in circulation in a country
Answer.b
7. f a commodity is provided free to the
public by the Government, then
(a) the opportunity cost is zero.
(b) the opportunity cost is ignored.
(c) the opportunity cost is transferred from the consumers of the product to the tax-paying public.
(d) the opportunity cost is transferred from the consumers of the product to the Government.
(b) the opportunity cost is ignored.
(c) the opportunity cost is transferred from the consumers of the product to the tax-paying public.
(d) the opportunity cost is transferred from the consumers of the product to the Government.
Answer.d
8. Increase in absolute and per
capita real GNP do not connote a higher level of economic development, if
(a) industrial output fails to keep pace with agricultural output.
(b) agricultural output fails to keep pace with industrial output.
(c) poverty and unemployment increase.
(d) imports grow faster than exports.
(a) industrial output fails to keep pace with agricultural output.
(b) agricultural output fails to keep pace with industrial output.
(c) poverty and unemployment increase.
(d) imports grow faster than exports.
Answer.c
9. Consider the following statements: Human
capital formation as a concept is better explained in terms of a process, which
enables
1. individuals of a country to
accumulate more capital.
2. increasing the knowledge, skill levels and capacities of the people of the country.
3. accumulation of tangible wealth.
4. accumulation of intangible wealth.
Which of the statements given above is/are correct?
(a) 1 and 2
(b) 2 only
(c) 2 and 4
(d) 1, 3 and 4
2. increasing the knowledge, skill levels and capacities of the people of the country.
3. accumulation of tangible wealth.
4. accumulation of intangible wealth.
Which of the statements given above is/are correct?
(a) 1 and 2
(b) 2 only
(c) 2 and 4
(d) 1, 3 and 4
Answer.b
10. Despite being a high saving economy, capital formation may not result in a significant increase in output due to
(a) weak administrative machinery
(b) illiteracy
(c) high population density
(d) high capital-output ratio
(b) illiteracy
(c) high population density
(d) high capital-output ratio
Answer.d
11. Consider the following statements:
1. The Reserve Bank of India manages and
services Government of India Securities but not any State Government
Securities.
2. Treasury bills are issued by the Government of India and there are no Treasury bills issued by the State Governments.
3. Treasury bills offer are issued at a discount from the par value. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 3 Only
(c) 2 and 3 only
(d) 1, 2 and 3
2. Treasury bills are issued by the Government of India and there are no Treasury bills issued by the State Governments.
3. Treasury bills offer are issued at a discount from the par value. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 3 Only
(c) 2 and 3 only
(d) 1, 2 and 3
Answer.c
12. Consider the following statements:
1. Capital Adequacy Ratio (CAR) is the
amount that banks have to maintain in the form of their own funds to offset any
loss that banks incur if the account-holders fail to repay dues.
2. CAR is decided by each individual bank.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
2. CAR is decided by each individual bank.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer.a
13. Consider the following:
1. Areca nut
2. Barley
3. Coffee
4. Finger millet
5. Groundnut
6. Sesamum
7. Turmeric
2. Barley
3. Coffee
4. Finger millet
5. Groundnut
6. Sesamum
7. Turmeric
The Cabinet
Committee on Economic Affair has announced the Minimum Support Price for which
of the above?
(a) 1, 2, 3 and 7 only
(b) 2, 4, 5 and 6 only
(c) 1, 3, 4, 5 and 6 only
(d) 1, 2, 3, 4, 5, 6 and 7
(b) 2, 4, 5 and 6 only
(c) 1, 3, 4, 5 and 6 only
(d) 1, 2, 3, 4, 5, 6 and 7
Answer.b
14. With reference to the governance of
public sector banking in India, consider the following statements
1. Capital infusion into public sector
banks by the Government of India has steadily increased in the last decade.
2. To put the public sector banks in order, the merger of associate banks with the parent State Bank of India has been affected.
Which of the statements given above is/are correct?
(a) 1 only
b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
2. To put the public sector banks in order, the merger of associate banks with the parent State Bank of India has been affected.
Which of the statements given above is/are correct?
(a) 1 only
b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer.c
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15. Consider the following items:
1. Cereal grains hulled
2. Chicken eggs cooked
3. Fish processed and canned
4. Newspapers containing advertising material
2. Chicken eggs cooked
3. Fish processed and canned
4. Newspapers containing advertising material
Which of the
above items is/are exempted under GST (Goods and Services Tax)?
(a) 1 only
(b) 2 and 3 only
(c) 1, 2 and 4 only
(d) 1, 2, 3 and 4
(b) 2 and 3 only
(c) 1, 2 and 4 only
(d) 1, 2, 3 and 4
Answer.d
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