Which of the following is NOT a source of non-tax revenue for the government of India? MCQ with Answer and Explanation

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Which of the following is NOT a source of non-tax revenue for the government of India?

A. Fees and fines

B. Interest receipts

C. Dividends from PSUs

D. Corporation tax

Answer: Option D

Solution (By JKSSB Mock Tests)

Corporation tax is a tax revenue. Interest receipts, dividends from public sector undertakings, and fees and fines are non-tax revenues.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Insolvency and Bankruptcy Board of India' regulates:

A. stock exchanges

B. insolvency professionals and agencies

C. banks only

D. insurance companies

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Correct Answer: Option B

Explanation:
IBBI regulates insolvency professionals, agencies and information utilities.

This question belongs to: Economy GK Economy Set 1

Question #2

The paradox of thrift suggests that:

A. increased saving by all households may reduce aggregate demand and output

B. thrift always increases investment

C. saving is always beneficial for the economy

D. saving is impossible in a recession

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Correct Answer: Option A

Explanation:
The paradox of thrift states that if everyone saves more during a recession, total demand and output may fall.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a feature of the Keynesian consumption function?

A. Average propensity to consume rises with income

B. Consumption is independent of income

C. Consumption depends only on the rate of interest

D. Consumption is a function of current disposable income

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Correct Answer: Option D

Explanation:
The simple Keynesian consumption function states that current consumption depends primarily on current disposable income, with a positive marginal propensity to consume less than one.

This question belongs to: Economy GK Economy Set 1

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