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. authorize withdrawal of funds from the Consolidated Fund of India

B. regulate banks

C. declare war

D. impose new taxes

Answer: Option A

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

The 'Goods and Services Tax' on warehousing services is:

A. 12%

B. 18%

C. 28%

D. 5%

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Correct Answer: Option B

Explanation:
Warehousing services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The purchasing power parity exchange rate between two currencies is the rate that:

A. maximizes exports

B. equalizes interest rates

C. equalizes the prices of a basket of goods across countries

D. equalizes trade balances

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Correct Answer: Option C

Explanation:
The PPP exchange rate equalizes the price of a common basket of goods across countries.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is NOT a type of foreign investment?

A. Foreign Direct Investment

B. External Commercial Borrowings

C. Domestic bank deposits by residents

D. Foreign Portfolio Investment

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Correct Answer: Option C

Explanation:
Domestic bank deposits by residents are not foreign investment. FDI, FPI and ECBs represent different forms of foreign capital inflows.

This question belongs to: Economy GK Economy Set 1

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