G.K. Practice Test: Question Set - 07
1. Which of the following is not a part of machinery that settles industrial disputes?
- (A) Wage Court
- (B) Works
Committee
- (C) Conciliation
officers
- (D) Board
of Conciliation
2. Excise duty is a tax levied on the
- (A) Import of
goods
- (B) Export
of goods
- (C) Production
of goods
- (D) Sale
of goods
3. If the fiscal deficit of the Union Government is Rs. 75,000 crores relending to State is Rs. 25,000 crores, interest payments are Rs. 25,000 crores, what is the amount of the primary deficit?
- (A) Rs. 50,000
crores
- (B) Rs.
25,000 crores
- (C) Rs. 1,00,000
crores
- (D) Rs. 1,25,000
crores
4. Short-term finance is usually for a period ranging up to
- (A) 5 months
- (B) 10 months
- (C) 12 months
- (D) 15 months
5. Deficit financing implies
- (A) Printing
new currency notes
- (B) Replacing
new currency with worn out currency
- (C) Public
expenditure in excess of public revenue
- (D) Public
revenue in excess of public expenditure
6. Which of the following items would not appear in a company's balance sheet?
- (A) Value
of stocks of raw materials held
- (B) Total
issued capital
- (C) Revenue from
sales of the company's products
- (D) Cash held at
the bank
7. In the second nationalization of commercial banks, ________ banks were nationalized.
- (A) 4
- (B) 5
- (C) 6
- (D) 8
8. The central banking functions in India are performed by the
I. Central
Bank of India
II. Reserve
Bank of India
III. State
Bank of India
IV. Punjab
National Bank
- (A) I, II
- (B) II
- (C) I
- (D) II, III
9. If an economy is equilibrium at the point where plans to save and to invest are equal, then government expenditure must be
- (A) Zero
- (B) Equal to
government income
- (C) Larger
than government income
- (D) Negative
10. Of the gross tax revenue of the Union Government the indirect taxes account for nearly
- (A) 70 percent
- (B) 75 percent
- (C) 65 percent
- (D) 60 percent
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