Start learning →

UPSC CSE Current Affairs — practice questions — page 3

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

Practise Current Affairs with Quill →

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
Show answer and solution

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._

Open this question →

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

  1. Depreciation
  2. Disinvestment
  3. Nationalisation
  4. Devaluation
Show answer and solution

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._

Open this question →

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
Show answer and solution

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._

Open this question →

How to practise

  1. Choose a Current Affairs question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.

More Economics topics

Indian EconomyOrganisationsPlanning And EconomyIndian PolityAgricultureIndependent IndiaColonial IndiaModern Indian History