A tariff is a: MCQ with Answer and Explanation

Question

Share Report Error

A tariff is a:

A. tax imposed on imported goods

B. ban on exports

C. subsidy given to exporters

D. quantitative limit on imports

Answer: Option A

Solution (By JKSSB Mock Tests)

A tariff is a tax imposed on imported goods.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

Share Report

The term 'Soft Loan' typically refers to:

A. Only short-term trade credit

B. Loans with concessional interest rates and longer repayment periods

C. Only domestic commercial bank loans

D. Loans with commercial interest rates

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
Soft loans are provided by multilateral agencies or governments at below-market interest rates with longer maturities and grace periods, often for development purposes.

This question belongs to: Economy GK Economy Set 1

Question #2

Share Report

Which of the following is a type of foreign capital inflow?

A. Domestic bank deposits of residents

B. Foreign direct investment, portfolio investment and external commercial borrowings

C. Only domestic equity issuance

D. Only government tax revenue

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
Foreign capital inflows include FDI, FPI, external commercial borrowings, trade credit and other external liabilities.

This question belongs to: Economy GK Economy Set 1

Question #3

Share Report

In the consumption function C = a + bY, 'a' represents:

A. marginal propensity to consume

B. saving

C. autonomous consumption

D. investment

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
In C = a + bY, 'a' is autonomous consumption, consumption independent of income.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs