Static Quiz 11 April 2024
Quiz-summary
0 of 5 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
Information
Static Quiz 11 April 2024 for UPSC Prelims
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 5 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
Categories
- Not categorized 0%
- 1
- 2
- 3
- 4
- 5
- Answered
- Review
- Question 1 of 5
1. Question
Regarding the contribution to GST revenue in India, rank the following entities in ascending order based on their GST revenue contribution since its inception:
1. Public limited company
2. Private limited companies
3. Public Sector Undertakings
4. Proprietorship FirmsChoose the correct sequence using the given code.
CorrectAnswer: B
IncorrectAnswer: B
- Question 2 of 5
2. Question
Assess the subsequent statements:
1. Recession signifies a decline in economic activities for at least two consecutive quarters.
2. The Indian economy experienced its first-ever recession during the 1991 economic turmoil.Which statements are accurate?
CorrectAnswer: A
While the rate of contraction was significantly less than the 23.9% drop in real GDP during Q1 (April, May, June), the contraction in Q2 suggests that India entered a “technical recession” in the first half of 2020-21—for the first time in its history. Hence, statement 2 is inaccurate.
IncorrectAnswer: A
While the rate of contraction was significantly less than the 23.9% drop in real GDP during Q1 (April, May, June), the contraction in Q2 suggests that India entered a “technical recession” in the first half of 2020-21—for the first time in its history. Hence, statement 2 is inaccurate.
- Question 3 of 5
3. Question
The sales tax levied on a toothpaste purchase is:
CorrectAnswer: d) A tax imposed and collected by the State Government
IncorrectAnswer: d) A tax imposed and collected by the State Government
- Question 4 of 5
4. Question
A government-imposed Carbon tax necessarily results in:
(1) A net revenue decrease for the economy.
(2) Cumulative GDP loss over successive fiscal years.Which of the above is accurate?
CorrectAnswer: d)
Explanation: A carbon tax targets the carbon content of fuels, a form of carbon pricing. While GHG emissions from fossil fuel combustion correlate with the carbon content, taxing these emissions can be done by taxing the carbon content of fossil fuels at any stage of the fuel’s product cycle.
Statement 1: A carbon tax can be revenue-positive if no adjustments are made to other tax rates. It can be revenue-neutral if adjustments are made to balance the revenue from the carbon tax with reductions in other taxes. Hence, it doesn’t necessarily reduce revenues.
Statement 2: Carbon taxes can be a cost-effective way to cut greenhouse gas emissions. In the long run, they can promote sustainable development and environmentally friendly growth methods. They don’t have to harm GDP growth, even in the short term, as the benefits of non-pollution might surpass those of a polluting economy. From an economic standpoint, carbon taxes are akin to Pigovian taxes, addressing the issue of emitters not bearing the full social cost of their emissions. However, carbon taxes can be regressive, affecting low-income groups more. This regressive impact can be mitigated by using tax revenues to benefit low-income groups.IncorrectAnswer: d)
Explanation: A carbon tax targets the carbon content of fuels, a form of carbon pricing. While GHG emissions from fossil fuel combustion correlate with the carbon content, taxing these emissions can be done by taxing the carbon content of fossil fuels at any stage of the fuel’s product cycle.
Statement 1: A carbon tax can be revenue-positive if no adjustments are made to other tax rates. It can be revenue-neutral if adjustments are made to balance the revenue from the carbon tax with reductions in other taxes. Hence, it doesn’t necessarily reduce revenues.
Statement 2: Carbon taxes can be a cost-effective way to cut greenhouse gas emissions. In the long run, they can promote sustainable development and environmentally friendly growth methods. They don’t have to harm GDP growth, even in the short term, as the benefits of non-pollution might surpass those of a polluting economy. From an economic standpoint, carbon taxes are akin to Pigovian taxes, addressing the issue of emitters not bearing the full social cost of their emissions. However, carbon taxes can be regressive, affecting low-income groups more. This regressive impact can be mitigated by using tax revenues to benefit low-income groups. - Question 5 of 5
5. Question
Which of the following trading or agreement types in securities markets is NOT sanctioned in India?
CorrectAnswer: d) All are permitted
IncorrectAnswer: d) All are permitted
