The 'asymmetric corridor' in Indian monetary policy refers to: MCQ with Answer and Explanation

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The 'asymmetric corridor' in Indian monetary policy refers to:

A. repo and reverse repo being equidistant from the policy rate

B. different widths of the corridor at different times or instruments

C. fixed exchange rate bands

D. dual GST rates

Answer: Option B

Solution (By JKSSB Mock Tests)

The asymmetric corridor refers to variations in the distance between policy rate, MSF and reverse repo rates.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a feature of the Indian tax system?

A. Only indirect taxes

B. Both direct and indirect taxes

C. No progressive taxation

D. Only direct taxes

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Correct Answer: Option B

Explanation:
The Indian tax system consists of both direct taxes (income tax, corporation tax) and indirect taxes (GST, customs duty), with progressive elements in direct taxes.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on spices is:

A. 12%

B. 0%

C. 5%

D. 18%

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Correct Answer: Option C

Explanation:
Spices generally attract 5% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Consumer Expenditure Survey' is used primarily to:

A. regulate banks

B. set interest rates

C. update weights in price indices and estimate poverty

D. calculate foreign reserves

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Correct Answer: Option C

Explanation:
Consumer expenditure surveys provide data for updating price index weights and poverty estimates.

This question belongs to: Economy GK Economy Set 1

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