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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. Which one of the following is a developmental expenditure?
Question Asked : SSC CPO Sub-Inspector Exam 2008

(A) Irrigation expenditure
(B) Civil administration
(C) Debt services
(D) Grant-in-aid

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2. The process of curing inflation by reducing money supply is called
Question Asked : SSC Section Officer (Audit) Exam 2008

(A) Cost-push inflation
(B) Demand-pull inflation
(C) Disinflation
(D) Reflation

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3. Inflation occurs when aggregate supply is
Question Asked : SSC Section Officer (Commercial Audit) Exam 2006

(A) more than aggregate demand
(B) less than aggregate demand
(C) equal to aggregate demand
(D) None of these

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4. Which of the following can be used for checking inflation temporarily?
Question Asked : SSC Section Officer (Audit) Exam 2005

(A) Increase in wages
(B) Decrease in money supply
(C) Decrease in taxes
(D) None of these

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5. Which of the following groups suffer the most from inflation?
Question Asked : SSC CPO Sub-Inspector Exam 2003

(A) Debtros
(B) Creditors
(C) Business class
(D) Holders of real assets

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6. When too much money is chasing too few goods the situation is
Question Asked : SSC Section Officer (Audit) Exam 2001

(A) deflation
(B) inflation
(C) recession
(D) stagflation

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7. VAT is imposed
Question Asked : SSC CHSL (10+2) LDC, DEO & PA/SA Exam 2015

(A) Directly on Consumer
(B) On first stage of production
(C) On final stage of production
(D) On all stages between production and sale

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8. A part of National Debt known as External Debt is the amount
Question Asked : SSC (10+2) Level Data Entry Operator & LDC Exam 2013

(A) borrowed by its citizens from abroad
(B) lent by its citizens to foreign governments
(C) borrowed by its government from abroad
(D) lent by its government to foreign government

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9. Taxes on professions can be levied by
Question Asked : SSC CAPFs SI & CISF ASI Exam 2013

(A) State government only
(B) both by state and union government
(C) by panchayats only
(D) Union government only

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10. Which of the following is an indirect tax?
Question Asked : SSC CAPFs SI & CISF ASI Exam 2013

(A) Capital Gains Tax
(B) Excise Duty
(C) Wealth Tax
(D) Estate Duty

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