Prelims 2020 Test Series-Indian Economy Test -20

  • a.) 
    a.)  A voluntary association of developing countries
  • b.) 
    b.)  A federation of International lending agencies
  • c.) 
    c.)  An affiliate of the World Bank
  • d.) 
    d.)  An organization of donor countries of European Union
  • a.) 
    (a) 1, 2, and 3
  • b.) 
    (b) 1 and 2
  • c.) 
    (c) 2 and 3
  • d.) 
    (d) 3 only
  • a.) 
    (a) Any of the central government taxes
  • b.) 
    (b) Personal Income Tax
  • c.) 
    (c) GST
  • d.) 
    (d) Central Excise and Service Tax
  • a.) 
    (a) 1 and 2 correct
  • b.) 
    (b) only 1 is correct
  • c.) 
    (c) only 2 is correct
  • d.) 
    (d) neither 1 nor 2 is correct 
  • a.) 
    a.)  A tax and penalty
  • b.) 
    b.)  tax only
  • c.) 
    c.)  tax, penalty and surcharge
  • d.) 
    d.)  tax, and surcharge
  • a.) 
    a.)  Pound Sterling
  • b.) 
    b.)  Dollar
  • c.) 
    c.)  SDR
  • d.) 
    d.)  A basket of selected currencies   
  • a.) 
    a.)  Price discrimination
  • b.) 
    b.)  Product diversification
  • c.) 
    c.)  Protection
  • d.) 
    d.)  Resource mobilization     
  • a.) 
    a.)  It is non-debt creating capital flow
  • b.) 
    b.)  It is portfolio investment in stock market
  • c.) 
    c.)  It is that investment which involves debt-servicing
  • d.) 
    d.)  It is investment made by foreign institutional investors in government securities
  • a.) 
    a.)  Freedom to transact in foreign currency on account of trade in goods and services.
  • b.) 
    b.)  Freedom to transact in foreign currency on account of trade in services.
  • c.) 
    c.)  Freedom to transact in financial assets with foreign countries without restrictions.
  • d.) 
    d.)  No restrictions on remittances by nationals of a country to another country.  
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