The 'Demands for Grants' are part of: MCQ with Answer and Explanation

Question
The 'Demands for Grants' are part of:
A. monetary policy
B. Union Budget
C. stock market
D. foreign trade policy
Answer: Option B
Solution (By JKSSB Mock Tests)
Demands for Grants are part of the Union Budget.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
In the context of monetary policy, the Liquidity Adjustment Facility (LAF) is used by RBI to:
A. Manage short-term liquidity in the banking system
B. Determine tax rates
C. Fix the fiscal deficit target
D. Provide long-term loans to industry
Discuss
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Correct Answer: Option A

Explanation:
LAF allows banks to borrow money through repurchase agreements (repo) or park excess funds with RBI (reverse repo) to manage day-to-day liquidity mismatches.
This question belongs to: Economy GK Economy Set 1
Question #2
A proportional tax is one where:
A. the tax rate rises with income
B. only high incomes are taxed
C. the tax rate falls with income
D. the average tax rate is constant across income levels
Discuss
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Correct Answer: Option D

Explanation:
A proportional tax applies the same tax rate to all income levels.
This question belongs to: Economy GK Economy Set 1
Question #3
In the context of Indian planning, the first Five Year Plan was based on which model?
A. Mahalanobis model
B. Harrod-Domar model
C. Lewis model
D. Solow model
Discuss
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Correct Answer: Option B

Explanation:
The First Five Year Plan (1951-56) was based on the Harrod-Domar model which emphasised the role of savings and investment in economic growth.
This question belongs to: Economy GK Economy Set 1
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