Mission SSC CGL 2016 - Quiz - Day 6 - Economics - GK

Hello and welcome to exampundit . Here is the seventh Quiz of the 50 Days Mission SSC CGL 2016 series.

Read the followings carefully and answer


Post answers according to the following format(s)
In case the options are ABCD, use the Appropriate Options.

Do Not Rectify anyone.

If you have any doubt regarding any question of the quiz, kindly ask after the quiz is over i.e answers given.


Do Not CHAT here. If you have any query, use today’s Ask The Mentor Page.

At least 7 Attempts for Scores.

Exampundit.in reserves the right to choose winner or give scores.

1. The ___________ economic system is controlled by centralized power.
a) Traditional
b) Mixed
c) Market
d) Command

2. In _____ economic system, the government does not controls any major segment of the economy
a) Traditional
b) Mixed
c) Market
d) Command

3. Which of the following is an indirect tax?
a) Corporate tax
b) Gift tax
c) Wealth tax
d) Passenger tax

4. What is the corporate tax for foreign companies in India?
a) 30
b) 35
c) 40
d) 25

5. Jha committee in 1982 introduced which tax?
a) Sales tax
b) Modvat
c) Service tax
d) Passenger tax

6. Zero based budgeting means____
a) Annual budget is prepared in such a way as if there was no budget in the past.
b) Annual budget is prepared in such a way as if the deficit is zero
c) Annual budget is prepared in such a way as if the revenues are always more than investment
d) Annual budget is prepared with no import tax on goods

7. Before GST was introduced, central sales tax was ___
a) 2%
b) 3%
c) 4%
d) 1%

8. The Foreign Exchange Management Act, 1999 was enacted to replace _______________
a) the Foreign Exchange Regulation Act, 1973
b) the Foreign import Act, 1985
c) the Foreign export Act, 1990
d) none

9.  The system of the budget was introduced in India during the viceroyalty of :
a) A Canning
b) B Dalhousie
c) C Ripon
d) D Elgin

10.  In India, the Local bodies cannot levy taxes on___
a) Octroi
b) Properties
c) Stamp duty
d) All


Team ExamPundit