The 'Appropriation Bill' is passed by Parliament to: MCQ with Answer and Explanation

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The 'Appropriation Bill' is passed by Parliament to:

A. impose new taxes

B. regulate banks

C. authorize withdrawal of funds from the Consolidated Fund of India

D. declare war

Answer: Option C

Solution (By JKSSB Mock Tests)

The Appropriation Bill allows the government to withdraw funds from the Consolidated Fund of India.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Commercial paper is a short-term instrument issued by:

A. RBI

B. individuals

C. state governments

D. highly rated corporate borrowers

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Correct Answer: Option D

Explanation:
Commercial paper is an unsecured short-term instrument issued by highly rated corporate borrowers.

This question belongs to: Economy GK Economy Set 1

Question #2

For an inferior good, the income effect of a price fall:

A. increases quantity demanded

B. decreases quantity demanded

C. always equals the substitution effect

D. does not affect quantity demanded

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Correct Answer: Option B

Explanation:
For an inferior good, a price fall raises real income, and the income effect causes the consumer to buy less of the good.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Gross Domestic Product' of India is estimated by which method?

A. Output/value added and expenditure methods

B. Only expenditure method

C. Only income method

D. Only production method

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Correct Answer: Option A

Explanation:
India's GDP is estimated using the output/value added and expenditure approaches.

This question belongs to: Economy GK Economy Set 1

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