The 'Tobin tax' is a proposed tax on: MCQ with Answer and Explanation

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The 'Tobin tax' is a proposed tax on:

A. short-term foreign exchange transactions

B. property

C. income

D. imports

Answer: Option A

Solution (By JKSSB Mock Tests)

A Tobin tax is a tax on short-term foreign exchange transactions to reduce speculative flows.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'currency note' in India bears the signature of:

A. RBI Governor

B. Prime Minister

C. Finance Minister

D. President

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Correct Answer: Option A

Explanation:
Currency notes except one rupee bear the signature of the RBI Governor.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the capital account convertibility?

A. Freedom to convert local financial assets into foreign financial assets and vice versa

B. Complete ban on capital flows

C. Freedom to convert local currency into foreign currency for current account transactions only

D. Only export-related convertibility

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Correct Answer: Option A

Explanation:
Capital account convertibility allows residents and non-residents to convert local currency into foreign currency and transfer capital freely for investment and other capital transactions.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of inflation, 'Headline Inflation' typically refers to:

A. Overall inflation including all items in the basket

B. Only food inflation

C. Only fuel inflation

D. Inflation excluding food and fuel

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Correct Answer: Option A

Explanation:
Headline inflation measures the total inflation in an economy, including all items such as food, fuel and others. Core inflation excludes volatile items like food and fuel.

This question belongs to: Economy GK Economy Set 1

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