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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 of the following taxes is such which does not cause rise in price?
Question Asked : SSC Section Officer (Commercial Audit) Exam 2005

(A) Import duty
(B) Income tax
(C) Octoroi
(D) Sales tax

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2. Deficit financing is an Instrument of
Question Asked : SSC CPO Sub-Inspector Exam 2005

(A) monetary policy
(B) credit policy
(C) fiscal policy
(D) tax policy

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3. Buoyancy of a tax is defined as
Question Asked : SSC Section Officer (Audit) Exam 2001

(A) percentage increase in tax revenue/percentage increase in tax base
(B) increase in tax revenue/percentage increase in tax coverage
(C) increase in tax revenue/increase in tax base
(D) percentage increase in tax revenue/ increase in tax coverage

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4. Interest on public debt is a part of
Question Asked : SSC Combined Graduate Level Prelim Exam 2000

(A) transfer payments by the enterprises
(B) transfer payments by the Govt.
(C) national income
(D) interest payments by house-holds

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5. Which one of the following is NOT an example of indirect tax?
Question Asked : SSC Combined Graduate Level Prelim Exam 2000

(A) Sales tax
(B) Excise duty
(C) Customs duty
(D) Expenditure tax

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6. What is an octroi?
Question Asked : SSC CGL Tier-I (CBE) Exam 2016

(A) Tax
(B) Tax collection centre
(C) Tax processing centre
(D) Tax information centre

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7. HDI is an aggregate measure of progress in which of the three dimensions?
Question Asked : SSC CGL Tier-I (CBE) Exam 2016

(A) Health, Education, Income
(B) Food Security, Employment, Income
(C) Agriculture, Industry, Services
(D) Height, Weight, Colour

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8. Inflation is a situation characterised by
Question Asked : SSC CGL Tier-I (CBE) Exam 2016

(A) Too much money chasing too few goods
(B) Too few money chasing too much goods
(C) Too many people chasing too few goods
(D) Too many people chasing too little money

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9. Short term contractions and expansions in economic activity are called
Question Asked : SSC CGL Tier-I (CBE) Exam 2016

(A) Expansions
(B) Recession
(C) Deficits
(D) The business cycle

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10. ‘Galloping Inflation’ is also known as
Question Asked : SSC (10+2) Stenographer Grade ‘C’ & ‘D’ Exam 2016

(A) Walking Inflation
(B) Running Inflation
(C) Hyper Inflation
(D) Creeping Inflation

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