Q. 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 :
1) 1 only
2) 2 only
3) Both 1 and 2
4) Neither 1 nor 2
Q. Which one of the following links all the ATMs in India ?
1) Indian Banks Association
2) National Securities Depository Limited
3) National Payments Corporation of India
4) Reserve Bank of India
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. Which one of the following statements correctly describes the meaning of legal tender money ?
1) The money which is tendered in courts of law of defray the fee of legal cases
2) The money which a creditor is under compulsion to accept in settlement of his claims
3) The bank money in the form of cheques, drafts, bills of exchange, etc.
4) The metallic money in circulation in a country
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. Increase in absolute and per capita real GNP do not connote a higher level of economic development, if -
1) industrial output fails to keep pace with agricultural out put
2) agricultural output fails to keep pace with industrial output
3) poverty and unemployment increase
4) imports grow faster than exports
Q. The Partnership for Action on Green Economy (PAGE), a UN mechanism to assist countries transition towards greener and more inclusive economies, emerged at -
1) The Earth Summit on Sustainable Development 2002, Johannesburg
2) The United Nations Conference on Sustainable Development 2012, Rio de Janeiro
3) The United Nations Frame work Convention on Climate Change 2015, Paris
4) The World Sustainable Development Summit 2016, New Delhi
Q. India ranks 44th in IMD World Competitiveness Index 2018. Which country is at the top in this index ?
1) USA
2) Hong Kong
3) Singapore
4) Switzerland
Q. Commodity Exchanges in India are now regulated by -
1) Forward Market Commission (FMC)
2) Competition Commission of India (FMC)
3) Securities and Exchange Board of India (SEBI)
4) Reserve Bank of India (RBI)
Q. Which of the following curves is used to measure the level of inequality ?
1) Lorenz curve
2) Laffer curve
3) Angle's curve
4) Philip curve
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