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UPSC Quick: Economy & Current Affairs
UPSC Economy • 10 questions • Free on ExamBattle
Practice Questions
Q1
Fiscal deficit is defined as:
- A. Total expenditure − Total revenue
- B. Total expenditure − Total receipts excluding borrowings
- C. Revenue expenditure − Revenue receipts
- D. Capital expenditure − Capital receipts
Q2
The repo rate is the rate at which:
- A. Banks lend to each other
- B. RBI lends to commercial banks
- C. Banks lend to the public
- D. Government borrows from RBI
Q3
Assertion: GST is a destination-based tax.
Reason: Under GST, the tax revenue accrues to the state where goods or services are consumed, not where they are produced.
- A. Both A and R are true, and R is the correct explanation of A
- B. Both A and R are true, but R is not the correct explanation of A
- C. A is true, but R is false
- D. A is false, but R is true
Q4
The "twin balance sheet" problem in the Indian economy refers to:
- A. Fiscal deficit and current account deficit
- B. Stressed bank balance sheets and over-leveraged corporate balance sheets
- C. Trade deficit and budget deficit
- D. Public debt and private savings mismatch
Q5
Which of the following is NOT a function of NABARD?
- A. Refinancing rural credit institutions
- B. Regulating foreign exchange markets
- C. Promoting rural development
- D. Supervising cooperative banks
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