The 'Tax Deducted at Source' on salary is deducted by: MCQ with Answer and Explanation

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The 'Tax Deducted at Source' on salary is deducted by:

A. RBI

B. employee

C. employer

D. Income Tax Department

Answer: Option C

Solution (By JKSSB Mock Tests)

Employer deducts TDS on salary.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the context of economic growth models, the Harrod-Domar model emphasises:

A. The role of savings rate and capital-output ratio in determining growth

B. Only technological progress

C. Only natural resource endowment

D. Only labour force growth

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Correct Answer: Option A

Explanation:
The Harrod-Domar model states that the growth rate of output depends on the savings rate and the capital-output ratio (or the productivity of capital).

This question belongs to: Economy GK Economy Set 1

Question #2

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The least-cost combination of inputs for a producer occurs where:

A. the isoquant intersects the isocost line at any point

B. total product is maximum

C. marginal cost is zero

D. the isoquant is tangent to the isocost line

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Correct Answer: Option D

Explanation:
Producer equilibrium for least cost is achieved at the tangency of an isoquant and isocost line.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'disinvestment target' in the Union Budget is classified as:

A. capital expenditure

B. revenue receipt

C. capital receipt

D. revenue expenditure

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Correct Answer: Option C

Explanation:
Disinvestment proceeds are capital receipts.

This question belongs to: Economy GK Economy Set 1

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