Which State Government has recently abolished “agriculture income tax”

Q1121. Which State Government has recently abolished “agriculture income tax”
(a) Karnataka (b) Rajasthan
(c) Bihar (d) Assam
Ans: (a)
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Q1122. Which of the following taxes is levied by the State Government only?
(a) Wealth tax
(b) Entertainment tax
(c) Income tax
(d) Gift tax
Ans: (b)
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Q1123. ’Stand up India’ scheme launched by the Prime Minister recently is related with
(a) Promotion of entrepreneurship among SC, ST and Women
(b) Promotion of rights of Divyangs
(c) Promotion of compulsory education for women
(d) Promotion of Indian exports in western countries
Ans: (a)
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Q1124. The new symbol of Indian currency is designed by
(a) Santosh Kumar
(b) Y.V. Reddy
(c) Udaya Kumar
(d) Dr. Rangarajan
Ans: (c)
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Q1125. Regional Rural Banks are sponsored by
(a) Nationalised Commercial Bank
(b) Reserve Bank of India
(c) State Bank of India
(d) Government of India
Ans: (a)
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Q1126. Who was the first Indian governor of the Reserve Bank of India?
(a) C.D. Deshmukh
(b) Sachindra Roy
(c) S Mukherjee
(d) None of these
Ans: (a)
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Q1127. The headquarters of RBI is in
(a) Delhi (b) Kanpur
(c) Mumbai (d) Nasik
Ans: (c)
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Q1128. Which of the following tax systems will help to reduce economic inequalities in India ?
(a) Regressive Tax
(b) Progressive Tax
(c) Flat rate tax
(d) None of these
Ans: (b)
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GENERAL ECONOMICS
Q1129. One of the essential conditions of perfect competition is :
(a) product differentiation
(b) multiplicity of prices for identical products at any one time.
(c) many sellers and a few buyers.
(d) Only one price for identical goods at any one time.
Ans: (d)
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Q1130. When there is a change in demand leading to a shift of the Demand Curve to the right, at the same price as before, the quantity demanded will
(a) decrease
(b) increase
(c) remain the same
(d) contract
Ans: (b)
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Q1131. Average Revenue means
(a) the revenue per unit of commodity sold
(b) the revenue from all commodities sold
(c) the profit realised from the marginal unit sold
(d) the profit realised by sale of all commodities
Ans: (a)
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Q1132. In equilibrium, a perfectly competitive firm will equate
(a) marginal social cost with marginal social benefit
(b) market supply with market demand
(c) marginal profit with marginal cost
(d) marginal revenue with marginal cost
Ans: (d)
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Q1133. Demand of commodity mainly depends upon–
(a) Purchasing will
(b) Purchasing power
(c) Tax policy
(d) Advertisement
Ans: (b)
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Q1134. Sellers market denotes a situation where :
(a) commodities are available at competitive rates
(b) demand exceeds supply
(c) supply exceeds demand
(d) supply and demand are evenly balanced
Ans: (b)
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Q1135. In the law of demand, the statement “Other things remain constant” means
(a) income of consumer should not change
(b) price of other goods should not change
(c) taste of consumer should not change
(d) All of the above
Ans: (d)
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Q1136. According to modern thinking, the law of diminishing returns applies to
(a) agriculture
(b) industry
(c) mining
(d) all fields of production
Ans: (d)
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Q1137. Prime cost is equal to
(a) Variable cost plus administrative cost
(b) Variable cost plus fixed costs
(c) Variable cost only
(d) Fixed cost only
Ans: (a)
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Q1138. All of the goods which are scarce and limited in supply are called
(a) Luxury goods
(b) Expensive goods
(c) Capital goods
(d) Economic goods
Ans: (d)
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Q1139. Economies of Scale means reduction in
(a) unit cost of production
(b) unit cost of distribution
(c) total cost of production
(d) total cost of distribution
Ans: (a)
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Q1140. When average cost production
(AC) falls, marginal cost of production must be.
(a) rising
(b) Falling
(c) Greater than the average cost
(d) Less than the average cost
Ans: (d)
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Q1141. Cross elasticity of demand between petrol and car is
(a) infinite (b) positive
(c) zero (d) negative
Ans: (d)
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Q1142. In Economics the ‘Utility’ and ‘Usefulness’ have
(a) same meaning
(b) different meaning
(c) opposite meaning
(d) None of the above
Ans: (b)
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Q1143. Which from the following is not true when the interest rate in the economy goes up ?
(a) Saving increases
(b) Lending decreases
(c) Cost of production increases
(d) Return on capital increases
Ans: (d)
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Q1144. A want becomes a demand only when it is backed by the
(a) Ability to purchase
(b) Necessity to buy
(c) Desire to buy
(d) Utility of the product
Ans: (a)
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Q1145. The most distinguishing feature of oligopaly is
(a) number of firms
(b) interdependence
(c) negligible influence on price
(d) price leadership
Ans: (b)
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Q1146. In a Capitalistic Economy, the prices are determined by :
(a) Demand and Supply
(b) Government Authorities
(c) Buyers in the Market
(d) Sellers in the Market
Ans: (a)
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Q1147. As output increases, average fixed cost
(a) increases
(b) falls
(c) remains constant
(d) first increases, then falls
Ans: (b)
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Q1148. Production function relates
(a) Cost to output
(b) Cost to input
(c) Wages to profit
(d) Inputs to output
Ans: (d)
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Q1149. Payment of water charges by the farmers to the govern-ment represents
(a) intermediate consumption
(b) final consumption
(c) fixed investment
(d) inventory investment
Ans: (a)
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Q1150. The term “market” in Economics means
(a) A central place
(b) Presence of competition
(c) Place where goods are stored
(d) Shops and super bazars
Ans: (a)