Fiscal Policy and Monetary Policy TNPSC Group 1 Questions

Indian Economy

Fiscal Policy and Monetary Policy MCQ Questions

7.
The most important source of public revenue is
A.
taxes
B.
interest
C.
dividends and profits
D.
license fees
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ANSWER :
A. Taxes
8.
If a perosn gets the prize of state lottery,which of the following taxes will he have to pay?
A.
Commercial tax
B.
Entertainment tax
C.
Income tax
D.
Wealth tax
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ANSWER :
C. Income tax
9.
________ is an indirect tax?
A.
Customs duty
B.
Corporation Tax
C.
Wealth tax
D.
Gift tax
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ANSWER :
A. Customs duty
10.
Exicse duties are taxes on
A.
sale of goods
B.
import of Commodities
C.
export of commodities
D.
production of commodities
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ANSWER :
D. production of commodities
11.
The Indian Income Tax is
A.
direct and proportional
B.
indirect and proportional
C.
direct and progressive
D.
indirect and progressive
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ANSWER :
C. direct and progressive
12.
Professional tax is levied by
A.
Central Government
B.
State Government
C.
Local Bodies
D.
Foreign Government
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ANSWER :
C. Local Bodies