The 'Merchandise Exports from India Scheme' was replaced by which scheme? MCQ with Answer and Explanation

Question

Share Report Error

The 'Merchandise Exports from India Scheme' was replaced by which scheme?

A. SEIS

B. EPCG

C. Advance Authorization

D. RoDTEP

Answer: Option D

Solution (By JKSSB Mock Tests)

MEIS was replaced by the Remission of Duties and Taxes on Exported Products scheme.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

The 'Revenue deficit' indicates that the government's:

A. capital expenditure exceeds capital receipts

B. revenue receipts exceed revenue expenditure

C. revenue expenditure exceeds revenue receipts

D. total budget is balanced

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Revenue deficit is the excess of revenue expenditure over revenue receipts.

This question belongs to: Economy GK Economy Set 1

Question #2

Statutory Liquidity Ratio is the percentage of NDTL that banks must maintain in:

A. loans to government

B. gold, cash and approved securities

C. cash with RBI only

D. foreign exchange only

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
SLR requires banks to maintain liquid assets such as cash, gold and approved securities.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following factors does NOT affect the price elasticity of demand?

A. Cost of production of the commodity

B. Nature of the commodity (necessity or luxury)

C. Time period allowed for adjustment

D. Availability of close substitutes

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
The cost of production influences the supply side. Price elasticity of demand depends on substitutes, nature of the good, proportion of income spent, time and habits.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs