The 'Customs duty' is levied on: MCQ with Answer and Explanation

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The 'Customs duty' is levied on:

A. services only

B. domestic production

C. income of citizens

D. imports and exports of goods

Answer: Option D

Solution (By JKSSB Mock Tests)

Customs duty is levied on imports and, in some cases, exports of goods.

This question belongs to: Economy GK Economy Set 1

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Question #1

NSDL and CDSL are depositories for:

A. dematerialized securities

B. bank deposits

C. government cash balances

D. foreign exchange reserves

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Correct Answer: Option A

Explanation:
NSDL and CDSL are the two depositories that hold securities in dematerialized form.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Wholesale Price Index' measures:

A. retail prices

B. prices at the wholesale level

C. prices of services

D. prices of consumer goods only

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Correct Answer: Option B

Explanation:
WPI measures price changes at the wholesale level.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Silver Revolution' in India is associated with:

A. fish

B. wool

C. milk

D. egg and poultry

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Correct Answer: Option D

Explanation:
The Silver Revolution is associated with egg and poultry production.

This question belongs to: Economy GK Economy Set 1

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