Important One Liner Economics 500 Question – Gk By Mr. DJ
451.What is Value Added Tax – a single tax which takes over the state taxes of surcharge, turnover etc.
452.Cenvat is related to- Excise
453.Who had proposed the termination preferential theory related to interest- J.M. Keynes
454.Unexpected expenditure from which fund can be made without prior approval of Parliament – from the contingency fund of India
455.What is a part of the national debt, known as the external debt – the amount borrowed by the government from abroad
456.If money is very high and goods are very low, then the situation is – inflation
457.Excise duty is payable on a commodity – in the context of its production
458.The difference between visual export and visual import is called – Trade Balance
459.Who belongs to tertiary sector in Indian economy – transportation of goods
460.Real estate belongs to which sector – III
461.Bank services fall under which sector of economic activity – tertiary sector
462.Agriculture is under which sector of economic activity- Primary sector
463.National income includes- Construction of new house.
464.Transfer payment includes – gift received from a friend.
465.When was the ‘Memorandum of Understanding’ introduced – 1987-88
466.Monopoly on the basis of price discrimination – demand elasticity
467.What is the situation in which total income equals total cost – equilibrium level point
468.What is a rare currency – a currency that is not easily accessible
469.Economic survey of India is published every year by- Ministry of Finance
470.What is the period of RBI’s accounting year – July to June
471.Under increasing yields there is a supply curve – left to right negative prone.
472.The opportunity cost of producing an item is – the next servile alternative production abandoned
473.What causes inflation – increase in money supply and loss in production
474.To whom are the additional values equal- Difference of output
475.Who benefits the most in the period of inflation- entrepreneurs
