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State PSC Current Affairs — practice questions — page 3

Explore 347 free Current Affairs questions in State PSC Economics. Open each question or exercise to read its content, reference answers and available explanation.

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Current Affairs questions and exercises with answers

Showing questions 61–90 of 347.

Firms are taxed on which basis?Read the answer and worked solution →Sale of government shares in Public Sector Undertakings is referred to as:Read the answer and worked solution →GST was implemented across the Centre, 28 states and 7 Union territories from:Read the answer and worked solution →Expenditure that creates no physical or financial assets of the government is:Read the answer and worked solution →The single largest component of non-plan revenue expenditure is:Read the answer and worked solution →The three policy statements presented with the budget are mandated by which Act?Read the answer and worked solution →The Medium-term Fiscal Policy Statement sets a rolling target over how many years?Read the answer and worked solution →When government expenditure exceeds revenue, the government runs a:Read the answer and worked solution →Revenue deficit equals revenue expenditure minus:Read the answer and worked solution →Fiscal deficit is total expenditure minus total receipts excluding:Read the answer and worked solution →Primary deficit equals fiscal deficit minus:Read the answer and worked solution →Whose General Theory argued that fiscal policy should stabilise output and employment?Read the answer and worked solution →Catch the direct taxesRead the answer and worked solution →Pop the deficit wordsRead the answer and worked solution →Run the budget numbersRead the answer and worked solution →Slice the taxesRead the answer and worked solution →Revenue or capitalRead the answer and worked solution →Sort the budget functionsRead the answer and worked solution →Type the numberRead the answer and worked solution →Government budget bingoRead the answer and worked solution →Who wrote An Enquiry into the Nature and Cause of the Wealth of Nations?Read the answer and worked solution →A good meant for final use that passes through no more stages of production is a:Read the answer and worked solution →Steel sheets used to make cars and copper used for utensils are examples of:Read the answer and worked solution →Tools, implements and machines used in production are called:Read the answer and worked solution →Televisions and automobiles, durable goods bought for final consumption, are called:Read the answer and worked solution →The common measuring rod used to add up different goods and services is:Read the answer and worked solution →Value of a firm's output minus the value of intermediate goods it used is its:Read the answer and worked solution →Depreciation of capital is also known as:Read the answer and worked solution →Gross value added minus depreciation gives:Read the answer and worked solution →The stock of unsold finished or semi-finished goods a firm carries into the next year is its:Read the answer and worked solution →

Worked practice questions

Firms are taxed on which basis?

  1. Proportional
  2. Progressive
  3. Regressive
  4. Lump sum
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Correct answer: A. Proportional

1. The rate is a set proportion of profits. 2. Firms are taxed proportionally. 3. Personal income tax is progressive. _Source: syllabus Introductory Macroeconomics, Chapter 5, Government Budget and the Economy._

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Sale of government shares in Public Sector Undertakings is referred to as:

  1. Depreciation
  2. Disinvestment
  3. Nationalisation
  4. Devaluation
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Correct answer: B. Disinvestment

1. It reduces the government's financial assets. 2. This is PSU disinvestment. 3. It is a non-debt creating capital receipt. _Source: syllabus Introductory Macroeconomics, Chapter 5, Government Budget and the Economy._

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GST was implemented across the Centre, 28 states and 7 Union territories from:

  1. 1 January 2018
  2. 1 July 2016
  3. 1 July 2017
  4. 1 April 2017
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Correct answer: C. 1 July 2017

1. It covers both goods and services. 2. GST began on 1 July 2017. 3. It changed the tax system dramatically. _Source: syllabus Introductory Macroeconomics, Chapter 5, Government Budget and the Economy._

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