Fiscal System Questions and answers

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51). India's progress has been reasonably satisfactory in connection with :
A). growth of per capita income
B). reduction in inequalities
C). reduction of unemployment
D). growth of GNP
52). among Indian Economists who had done pioneering work on National Income?
A). P.N. Dhar
B). Jagdish Bhagwan
C). V.K.R.V. Rao
D). Prof. Shenoi
53). Who was the chairman of National Income committee ?
A). P.C. Mahalanobis
B). V.K.R.V. Rao
C). D.R. Gadgil
D). A.M. Khusro
54). The recommendations of the Finance Commission are :
A). binding on the government
B). not binding on the government
C). generally accepted as a matter of convention
D). accepted or rejected by the government according to the convenience
55). After 1991, the Central Government implemented various far-reaching reforms in the area of taxation. This was based on the recommendations of the :
A). Wanchoo committee
B). Rajah chelliah committee
C). Raj Committee
D). Narsimhan Committee


56). Development is :
A). synonymous with economic growth
B). narrower than economic growth
C). wider than economic growth
D). not related to economic growth
57). In the short run, a producer continues his production as long as he covers :
A). variable cost
B). fixed cost
C). average cost
D). marginal cost
58). Which is the best measure of economic growth of a country?
A). GNP
B). GDP
C). Net revenue
D). None of these
59). A tax Which is paid by the person on whom the tax is incident is called a :
A). direct tax
B). local tax
C). indirect tax
D). rate
60). Rate of growth of an economy is measured in terms of:
A). per capita income
B). national income
C). infrastructural development
D). persons above poverty line
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