Indian army has published the notification for SSC Tech 56 men and SSC Tech 27 women for the course commencing at OTA Chennai from April 2021
Consider the following statements.
1. While Gross Domestic Product includes the production of goods and services within a country by all producers, Gross National Product captures all goods and services that is produced by the citizens of a country.
2. Usually Gross National Product tends to be less, if an economy is highly globalised and competitive and many of its MNCs are operating in other countries.
Which of the above statements is/are correct?
1 only
2 only
Both 1 and 2
Neither 1 nor 2
Tax buoyancy refers to the responsiveness of tax revenue growth to changes in GDP. If there is an output growth and the tax buoyancy is not commensurate, then it can imply
There is tax evasion
Growth in the non-taxed part of GDP
Both a and b
Neither a nor b
Income tax in India is
Levied, collected and appropriated by Central government
Levied, collected by Central government; and distributed between Centre and state governments
Levied by Central government, but collected and appropriated by state governments
Levied, collected and appropriated by state governments
External Aids is the best means to finance a government’s fiscal deficit because
1. It brings in foreign currency that is also useful to bridge the Balance of payments (BoP) apart from its utility in developmental expenditures.
2. It does not cause crowding out effect in the domestic market and is favourable to the domestic borrowers.
Match the following pairs:
Term Definitions
1. Deflation - A. Reduction in the rate of inflation
2.Disinflation - B. General fall in the level of prices
3.Stagflation - C. Combination of inflation and rising unemployment due to recession
4.Reflation - D. Attempt to raise the prices to counteract the deflationary prices.
Select the correct answer code:
1-A, 2-B, 3-C, 4-D
1-B, 2-A, 3-C, 4-D
1-B, 2-A, 3-D, 4-C
1-A, 2-B, 3-D, 4-C
