SECTION-5

Economics Multiple Choice Questions

 

Q11. The objective of SEZ is       [UPPCS (Pre) 2014]

(A) Promotion of Goods and Services
(B) Promotion of Regional Trade
(C) Promotion of MSME’s
(D) Promotion of Government Schemes

Ans:(A) Promotion of Goods and Services

Q12. Which of the following taxes is levied and collected by the Union but distributed between Union and States?          [UPPCS (Pre) 2004]

(A) Corporation Tax
(B) Tax on income other than on agricultural income
(C) Tax on railway fares and freight
(D) Customs

Ans:(B) Tax on income other than on agricultural income

 

Q13. Which tax is levied and collected by the Union Government but distributed between the Union and the States?         [BPSC (Pre) 2001]

(A) Import duty
(B) Central Excise duty
(C) Export duty
(D) None of the above

Ans:(B) Central Excise duty

 

Q14. Which one of the following statements regarding the levying, collecting and distribution of Income Tax is correct?      [UPSC (Pre) 1999]

(A) The Union levies, collects and distributes the proceeds of income tax between itself and the states
(B) The Union levies, collects and keeps all the proceeds of income tax to itself
(C) The Union levies and collects the tax, but all the proceeds are distributed among the states
(D) Only the surcharge levied on income tax is shared between the Union and the States

Ans:(A) The Union levies, collects and distributes the proceeds of income tax between itself and the states

 

Q15. The tax on Import and Export is known as    [UPPCS (Pre) 2006]

(A) Income Tax
(B) Trade Tax
(C) Custom Duty
(D) None of the above

Ans:(C) Custom Duty

 

Q16. Who had suggested an imposition of ‘expenditure tax’ in India for the first time?
[UPPCS (Pre) 2010]

(A) Kalecki
(B) Kaldor
(C) R.J. Chelliah
(D) Gautam Mathur

Ans:(B) Kaldor

 

Q17. The main source of revenue for the National Highway Authority of India is 
[UPPCS (Pre) 2011]

(A) Cess
(B) Foreign assistance
(C) Market borrowings
(D) Budgetary support of Union Government

Ans:(A) Cess

 

Q18. Consider the following taxes.
1. Sales Tax
2. Income Tax
3. Corporate Tax
4. Entertainment Tax
Which of the above taxes are levied by the state government and not shared by central government?      [HPPSC (Pre) 2010]

(A) Only 1 and 2
(B) Only 2 and 3
(C) Only 3 and 4
(D) Only 1 and 4

Ans:(D) Only 1 and 4

 

Q19. Consider the following in relation with Corporate tax.
1. Total turnover of the company
2. Profit after distribution of dividend
3. Profit before distribution of dividend
4. Capital employed in the company
Which one of the above is basis of corporate tax?        [HPPSC (Pre) 2010]

(A) 1 alone
(B) 2 alone
(C) 3 alone
(D) 4 alone

Ans:(C) 3 alone

 

Q20. Find the tax which is direct tax among the following.        [HCS (Pre) 2014]

(A) House Tax
(B) Service Tax
(C) Entertainment Tax
(D) Value Added Tax

Ans:(A) House Tax

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Read More Sections of Indian Economy Objective Questions

Each section contains maximum 80 Questions. To practice more questions visit other sections.
 

 Indian Economy Objective Questions – Section-1

 

 Indian Economy Objective Questions – Section-2

 

 Indian Economy Objective Questions – Section-3

 

 Indian Economy Objective Questions – Section-4

 

 Indian Economy Objective Questions – Section-5

 

 Indian Economy Objective Questions – Section-6

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