5000+ Economy GK | Indian Economy MCQ Questions and Answers

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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. The incidence of sales tax falls on

Question Asked : SSC Section Officer (Commercial Audit) Exam 2003

(A) Consumers
(B) Wholesale dealers
(C) Retail dealers
(D) Producers

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2. A tax is characterised by horizontal equity if its liability is

Question Asked : SSC Section Officer (Audit) Exam 2001

(A) proportional to the income of tax payers
(B) similar for tax payers in similar circumstances
(C) proportional to the expenditure of tax payers
(D) the same for every tax payer

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3. Indirect tax means

Question Asked : SSC Combined Graduate Level Prelim Exam 1999

(A) there is not direct relationship between the tax payer and the government.
(B) direct relationship between tax payer and the government.
(C) tax base is income
(D) the incidence and impact are on the same person on whom tax is imposed.

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4. An economic theory is a/an

Question Asked : SSC Graduate Level Tier-I Exam 2013

(A) Axion
(B) Proposition
(C) Hypothesis
(D) Tested hypothesis

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5. The worldwide Great Depression took place in

Question Asked : SSC Multi-Tasking Staff Exam 2013

(A) 1936
(C) 1928
(B) 1929
(D) 1930

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6. The Great Depression occurred during

Question Asked : SSC Multi-Tasking Staff Exam 2013

(A) 1914-18
(B) 1929-34
(C) 1939-45
(D) 1922-26