Tax revenue of the central government is classified under: MCQ with Answer and Explanation

Question
Tax revenue of the central government is classified under:
A. borrowings
B. non-tax revenue
C. revenue receipts
D. capital receipts
Answer: Option C
Solution (By JKSSB Mock Tests)
Tax revenue is a revenue receipt.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
In the context of industrial organisation, the 'Structure-Conduct-Performance' paradigm suggests that:
A. Market structure determines firm conduct which in turn determines performance
B. Conduct is independent of structure
C. Only performance matters
D. Performance determines structure
Discuss
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Correct Answer: Option A

Explanation:
The traditional SCP paradigm posits a causal chain from market structure (concentration, entry barriers) to firm conduct (pricing, advertising) to market performance (profits, efficiency).
This question belongs to: Economy GK Economy Set 1
Question #2
The Atal Mission for Rejuvenation and Urban Transformation focuses on:
A. urban infrastructure and basic services
B. railway electrification
C. rural roads
D. agricultural markets
Discuss
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Correct Answer: Option A

Explanation:
AMRUT focuses on urban infrastructure and basic services.
This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a characteristic of the informal sector in developing economies?
A. High degree of regulation
B. High capital intensity and formal contracts
C. Complete absence of employment
D. Easy entry, small scale and labour intensity
Discuss
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Correct Answer: Option D

Explanation:
The informal sector is characterised by easy entry, small-scale operations, labour-intensive technology, lack of formal contracts and limited regulation.
This question belongs to: Economy GK Economy Set 1
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