Answer: (c)
Answer: (c)
Answer: (b)
Answer: (d)
Answer: (d)
Impossible Trinity or the Trilemma
The idea was proposed independently by Canadian economist Robert Mundell and British economist Marcus Fleming in the early 1960s.
It refers to the idea that an economy cannot simultaneously pursue:
1.Independent monetary policy (i.e., set any interest rate);
2.Maintain a fixed exchange rate;
3.Allow the free flow of capital across its borders at the same time.
According to economists, any economy can choose to pursue only two out of the three policy options simultaneously in the long-run.
Answer: (b)
Answer: (a)
Answer: (d)
Answer: (d)
Answer: (d)
Answer: (c)
Answer: (c)
Answer: (b)
Answer: (c)
What is a loan write-off?
Why do banks resort to write-offs?
Answer: (c)
WPI measures the inflation at wholesale level.
▪ The present base year of WPI is 2011-12
▪ Nodal Office for Compilation and release of WPI is the Office of Economic Adviser, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry.
▪ WPI figures are published on a monthly basis.
▪ Services are not covered under WPI.
Answer: (b)
Answer: (b)
Adam Smith’s principles or cannons of taxation still form the basis of the tax structure of a modern state:
1.Canon of Economy: Minimum possible money should be spent in the collection of taxes. Collected amount should be deposited in the Government treasury.
2.Canon of Equality: the government should impose taxes in such a way that people have to pay according to their ability.
3.Canon of Certainty: Certainty creates confidence in the taxpayers cost of collection of taxes and increases economic welfare because it tends to avoid all economic waste.
4.Canon of Convenience: Taxes should be levied and collected in such a manner that it provides a maximum of convenience to the taxpayers.
Answer: (a)
Hence statement 1 is correct.
Hence statement 2 is incorrect.
Answer: (b)
Answer: (d)
© 2024 Civilstap Himachal Design & Development