2016-17 Quiz 1

Send your answers to profKMody@gmail.com by Friday 19 August 2016.

1.         GST is also known as

A.         First point retail tax

B.         First point wholesale tax

C.         Last point wholesale tax

D.        Last point retail tax

2.         In India we will have

A.         Single GST

B.         Double GST

C.         Dual GST

D.         None of the above

3.         Which of the following rates is not decided by the Reserve Bank of India? 

A.         Bank Rate

B.         Repo Rate

C.         Reserve Repo rate

D.        Income Tax Rates

4.         What are MSMEs in the Indian economy?

5. The Planning Commission has been replaced by NITI Aayog. What does NITI stand for?

6. When did RBI release the Third Bi-Monthly Monetary Policy Statement 2016-17?

7. What is Ponzi scheme? Who is it named after?