The 'Budget at a Glance' is a document that: MCQ with Answer and Explanation

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The 'Budget at a Glance' is a document that:

A. provides a summary of the budget

B. is not made public

C. is prepared by RBI

D. contains only secret information

Answer: Option A

Solution (By JKSSB Mock Tests)

Budget at a Glance provides a summary of budget estimates.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'base effect' in inflation refers to:

A. the effect of money supply on prices

B. inflation measured against a low or high price level in the previous year

C. the effect of exchange rate on imports

D. the effect of changing the base year of GDP

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Correct Answer: Option B

Explanation:
Base effect refers to the influence of the previous year's price level on the current inflation rate.

This question belongs to: Economy GK Economy Set 1

Question #2

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

A. 18%

B. 5%

C. 28%

D. 12%

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Correct Answer: Option A

Explanation:
Port services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is an example of a quasi-public good?

A. Clean air

B. Education

C. Street lighting

D. National defence

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Correct Answer: Option B

Explanation:
Education is often classified as a quasi-public (or merit) good because it is partially excludable and rivalrous but generates significant positive externalities, justifying public provision.

This question belongs to: Economy GK Economy Set 1

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