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Indian Economy Question and Answer – Economic and commercial developments for competitive examinations are an important subject, especially for examinations like banks, UPSC and IAS. There are a number of questions based on Indian Economy, Monetary Policy, Agriculture, Five Year Plan, Mixed Economy, Latest Economy Current Affairs, which are here to keep you updated and get success in the interview.

1. Saving is that portion of money income that is

Question Asked : SSC CGL Tier-I (CBE) Exam 2016

(A) spent for development of Industries
(B) not spent on consumption
(C) spent on health and education
(D) spent for consumer durables

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2. The rate of tax increase as the amount of the tax base increases is called

Question Asked : SSC CGL Tier-I (CBE) Exam 2016

(A) Proportional tax
(B) Progressive tax
(C) Regressive tax
(D) Degressive tax

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3. By whom was the autonomous investment separated from induced investment?

Question Asked : SSC CHSL (10+2) LDC, DEO & PA/SA Exam 2015

(A) Schumpeter
(B) Malthus
(C) Joan Robinson
(D) Adam Smith

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4. A tax is said to be regressive when its burden falls

Question Asked : SSC CAPFs SI, CISF ASI & Delhi Police SI Exam 2015

(A) less heavily on the poor than on the rich
(B) more heavily on the poor than on the rich
(C) equally on the poor as on the rich
(D) None of these

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5. Taxes are as certain as the death, because

Question Asked : SSC CHSL (10+2) DEO & LDC Exam 2014

(A) They constitute the major source of government revenue.
(B) Government have no other source of revenue.
(C) Most PSUs are run inefficiently.
(D) Government has its own budget constraints.

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6. The theory of “Maximum Social Advantage” in Public Finance was given by

Question Asked : SSC CHSL (10+2) DEO & LDC Exam 2014

(A) Robbins
(B) Musgrave
(C) Findley
(D) Dalten

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7. Forced Savings refer to

Question Asked : SSC Graduate Level Tier-I Exam 2013

(A) Reduction of consumption consequent to a rise in prices
(B) Taxes on individual income and wealth
(C) Compulsory deposits Imposed on income tax payers
(D) Provident fund contribution of private sector employees

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8. Custom duty is an instrument of

Question Asked : SSC Multi-Tasking Staff Exam 2013

(A) Monetary Policy
(B) Foreign Trade Policy
(C) Industrial Policy
(D) Fiscal Policy

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9. Which one of the following is a direct tax?

Question Asked : SSC Multi-Tasking Staff Exam 2013

(A) Sales Tax
(B) Excise Tax
(C) Wealth Tax
(D) Entertainment Tax

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10. Taxation is a tool of

Question Asked : SSC (10+2) Level Data Entry Operator & LCD Exam 2011

(A) Monetary policy
(B) Fiscal policy
(C) Price policy
(D) Wage policy