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Question 1 of 5
1. Question
1 pointsBuoyancy of tax refers to which of the following?
Correct
There is a strong connection between the government’s tax revenue earnings and economic growth. The simple fact is that as the economy achieves faster growth, the tax revenue of the government also goes up.
Tax buoyancy explains this relationship between the changes in government’s tax revenue growth and the changes in GDP. It refers to the responsiveness of tax revenue growth to changes in GDP. When a tax is buoyant, its revenue increases without increasing the tax rate.Incorrect
There is a strong connection between the government’s tax revenue earnings and economic growth. The simple fact is that as the economy achieves faster growth, the tax revenue of the government also goes up.
Tax buoyancy explains this relationship between the changes in government’s tax revenue growth and the changes in GDP. It refers to the responsiveness of tax revenue growth to changes in GDP. When a tax is buoyant, its revenue increases without increasing the tax rate. -
Question 2 of 5
2. Question
1 pointsWhich of the following measures is/are examples of expansionary fiscal policy?
1. Decrease in tax rate
2. Increase in pensions
3. Increase in unemployment compensation
4. Increase in tax rate.
Select the correct answer codes:Correct
An expansionary is a macroeconomic policy that seeks to encourage economic growth or combat inflationary price increases by expanding the money supply, lowering interest rates, increasing government spending or cutting taxes.
Increasing the tax rate is not an example of expansionary fiscal policy.Incorrect
An expansionary is a macroeconomic policy that seeks to encourage economic growth or combat inflationary price increases by expanding the money supply, lowering interest rates, increasing government spending or cutting taxes.
Increasing the tax rate is not an example of expansionary fiscal policy. -
Question 3 of 5
3. Question
1 pointsConsider the following statements about Reserve Bank of India.
1. The bank was set up based on the recommendations of the Hilton–Young Commission.
2. Performs merchant banking function for the central and the state governments and also acts as their banker.
3. Manages the Foreign Exchange Management Act, 1999.
4. Issues and exchanges or destroys currency and coins not fit for circulation.
Which of the above statements is/are correct?Correct
All of the above are correct.
Incorrect
All of the above are correct.
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Question 4 of 5
4. Question
1 pointsIn the seventh and eighth centuries, ‘ghatikas’ were
Correct
These ghatikas or colleges attached to the temples emerged as new centres of learning in 7th and 8th century. The ‘ghatikas’, provided Brahmanical education. The medium of instruction was Sanskrit. Entry to these temple colleges was open only to the upper castes or ‘dvijas’ (twice born).
Incorrect
These ghatikas or colleges attached to the temples emerged as new centres of learning in 7th and 8th century. The ‘ghatikas’, provided Brahmanical education. The medium of instruction was Sanskrit. Entry to these temple colleges was open only to the upper castes or ‘dvijas’ (twice born).
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Question 5 of 5
5. Question
1 pointsConsider the following statements:
1. They developed Vesara style of architecture.
2. Their structural temples exist at Aihole, Badami and Pattadakal.
3. Their administration was highly centralized.
The above statements most accurately refer to?Correct
Administration: The Chalukya administration was highly centralized unlike that of the Pallavas and the Cholas.
Village autonomy was absent under the Chalukyas.
Architecture: The Chalukyas were great patrons of art. They developed the vesara style in the building of structural temples. However, the vesara style reached its culmination only under the Rashtrakutas and the Hoysalas.
Cave temple architecture was also famous under the Chalukyas. Their cave temples are found in Ajanta, Ellora and Nasik.
The best specimens of Chalukya paintings can be seen in the Badami.Incorrect
Administration: The Chalukya administration was highly centralized unlike that of the Pallavas and the Cholas.
Village autonomy was absent under the Chalukyas.
Architecture: The Chalukyas were great patrons of art. They developed the vesara style in the building of structural temples. However, the vesara style reached its culmination only under the Rashtrakutas and the Hoysalas.
Cave temple architecture was also famous under the Chalukyas. Their cave temples are found in Ajanta, Ellora and Nasik.
The best specimens of Chalukya paintings can be seen in the Badami.
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