Welcome to Online General Knowledge section in Affairs cloud, which is important for all the competitive exams. We have created Some questions related to Indian GK(Indian Economy) !!!
- In Economy, Amalgamation means the process of
5.None of theseAnswer – 2.Merging
Amalgamation is done as a method of acquiring cash resources, eliminating competition, saving on taxes or influencing the economies of large-scale operations
- An ad valorem tax (Latin for “according to value”) is a kind of
5.None of theseAnswer – 4.Indirect Tax
An ad valorem tax (Latin for “according to value”) is an indirect tax whose amount is based on the value of a transaction or of property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT).
- Autarky is an economic policy to have a which type of economy ?
4.All of these
5.None of theseAnswer – 3.Closed Economy
Autarky is an economic policy to have a closed economy and not allow any external trade. The meaning of Autarky is self sufficient.
- A Tobin tax is related to
5.None of theseAnswer – 4.Currency
A Tobin tax is a levy on financial transactions, in particular currency transactions. It was suggested by Nobel Memorial Prize in Economic Sciences Laureate economist James Tobin, was originally defined as a tax on all spot conversions of one currency into another.
- The Safe investment in stock exchange is also called as
5.None of theseAnswer – 3.Blue Chip
Blue Chip in stock is concerned with such equity shares whose purchase is extremely safe
- A tax is said to bebuoyantif the tax revenues……………… proportionately in response to a rise in national income or output.
1.Increase more than
2.Decreases less than
3.Decreases more than
4.Increases less than
5.None of theseAnswer – 1.Increase more than
A tax is said to be buoyant if the tax revenues increase more than proportionately in response to a rise in national income or output.
- …………… is the money which can only be borrowed at a high rate of interest
5.None of theseAnswer – 2.Dear Money
Dear Money is when it is expensive to borrow money because of high real interest rates. For example, if bank rates are 10% and inflation is 6%. The effective real interest rate is 4% which is quite high.
- Which law is used to relate income and money spent on food ?
3.Law of supply
5.None of theseAnswer – 4.Engel’s law
Engel’s Law: Economic theory that the proportion of income spent on food decreases as income increases, other factors remaining constant.
- GEM is abbreviated as
1.Gender Empowerment Measure
2.Global Economic Market
3.General Education Measure
4.Gender Education Mature
5.None of theseAnswer – 1.Gender Empowerment Measure
The Gender Empowerment Measure (GEM) is a measure of inequalities between men’s and women’s opportunities in a country.
- Laissez-faire is an economic system in which transactions between ……………..
2.Private and Public
3.Private and Govenment
5.None of theseAnswer –4.Private parties
Laissez-faire is an economic system in which transactions between private parties are free from government interference such as regulations, privileges, tariffs, and subsidies.