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81. Which is the best measure of economic growth of a country ?
A. GNP
B. GDP
C. Net revenue
D. None of these
Explanation:
82. Fiscal deficit in the Union Budget means
A. the difference between current expenditure and current revenue
B. net increase in Union Government borrowings from the Reserve Bank of India.
C. the sum of budgetary deficit and net increase in internal and external borrowings
D. the sum of monetised deficit and budgetary deficit
Explanation:
83. Temporary tax levied to obtain additional revenue is called
A. Cess
B. Rate
C. Fee
D. Surcharge
Explanation:
84. In a country like India, why should an increase of direct taxes be preferred to an increase in indirect taxes ?
A. Direct taxes serve the end of Socialism by taking away the excessive wealth from the rich.
B. Direct taxe involve the well off sections of the society while indirect taxes affect the masses.
C. It is easy to realise direct taxes and is thus useful in a country troubled by tax evasion.
D. All of the above.
Explanation:
85. Which of the following are the results of low per capita income ?1. Mass poverty 2. Mass unemployment 3. Growing population falls back upon land for earning their livelihood4. Low agricultural productivity
A. 1 and 2
B. 1, 2 and 3
C. 1 only
D. 1, 2, and 4
Explanation:
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