The 'Consolidated Fund of India' includes: MCQ with Answer and Explanation

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The 'Consolidated Fund of India' includes:

A. only borrowing

B. only foreign aid

C. only tax revenues

D. all government revenues, borrowings and loans received

Answer: Option D

Solution (By JKSSB Mock Tests)

The Consolidated Fund of India includes all government revenues, borrowings and receipts.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Phillips curve' shows trade-off between:

A. unemployment and growth

B. inflation and unemployment

C. interest rates and inflation

D. inflation and growth

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Correct Answer: Option B

Explanation:
Phillips curve shows inverse relationship between inflation and unemployment.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Composition Scheme' under GST is available for goods suppliers with turnover up to:

A. Rs 1.5 crore

B. Rs 10 crore

C. Rs 40 lakh

D. Rs 5 crore

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Correct Answer: Option A

Explanation:
Composition scheme for goods is available up to Rs 1.5 crore.

This question belongs to: Economy GK Economy Set 1

Question #3

Automatic stabilizers in fiscal policy include:

A. discretionary changes in government spending

B. open market operations

C. progressive income taxes and unemployment benefits

D. changes in repo rate

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Correct Answer: Option C

Explanation:
Automatic stabilizers such as progressive taxes and unemployment benefits automatically reduce economic fluctuations.

This question belongs to: Economy GK Economy Set 1

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