Q. If a commodity is provided free to the public by the Government, then -
1) the opportunity cost is zero
2) the opportunity cost is ignored
3) the opportunity cost is transferred from the consumers of the product to the tax-paying public
4) the opportunity cost is transferred from the consumers of the product to the Government
Q. Increase is absolute and per capital real GNP does not connote a higher level of economic development, if -
1) industrial output fails to keep pace with agricultural output
2) agricultural output fails to keep pace with industrial output
3) poverty and unemployment increase
4) imports grow faster than exports
Q. Despite being a high saving economy, capital formation may not result in significant increase in output due to -
1) weak administrative machinery
2) illiteracy
3) high population density
4) high capital-output ratio
Q. Which of the following tax is not included in Goods and Services Tax (GST)?
1) Excise Duty
2) Custom Duty
3) Value Added Tax
4) Service Tax
Q. As on October 2019, how many Maharatna Companies are in India?
1) 8
2) 9
3) 10
4) 12
Q. Which of the following is the main function of National Development Council in India?
1) To activate the means and efforts of states for implementation of the planning
2) To develop the general policies in all the important areas
3) To confirm the balanced development in all the areas of the country
4) All of these
Q. Which of the following Prime Ministers of India, is regarded as the Father of Economic Reforms?
1) Rajiv Gandhi
2) P. V. Narshimha Rao
3) Atal Bihari Vajpayee
4) Manmohan Singh
Q. Which of the following taxes is also known as Google Tax?
1) Equalisation Levy
2) Capital Levy
3) Estate Duty
4) Gift Tax
Q. Consider the following statements regarding Serious Fraud Investigation Office (SFIO) -
1. It is a statutory investigation agency in India.
2. It falls under the jurisdiction of the Ministry of Corporate Affairs.
Which of the statements given above is/ are correct?
1) 1 only
2) 2 only
3) Both 1 and 2
4) Neither 1 nor 2
Q. International Financial Centre, first of its kind in India, is established in which state?
1) Maharashtra
2) Gujarat
3) West Bengal
4) Tamil Nadu
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