Answer: Option [B]The terms “Micro Economics” and “Macro Economics” were coined by Ranger Frisch. Ragnar Anton Kittil Frisch was a Norwegian economist . He coined the term micro economics and macro economics .Macro economics deals the economy as a whole. In micro economics , study of economics is done from an individual point of view.
Answer: Option [C]The existence of a parallel economy or Black Money Makes the monetary policies less effective. The existence Black money lead to the creation of a parallel economy. It also makes the monetary policies less effective as the government cannot account properly account for the money which is not formally included in the system.
Answer: Option [A]The correct answer is Taxes on Advertisement. Apart from taxes levied and collected by the States, the Constitution has provided for the revenues for certain taxes on the Union List to be allotted, partly or wholly to the States. There are taxes which are levied and collected by the Union, but the entire proceeds of which are assigned to the states, in proportion determined by the Parliament.
Answer: Option [C]The correct answer is Excise duty, Custom duty and Income tax.
- The taxing powers of the central government encompass taxes on income (except agricultural income), excise on goods produced (other than alcohol), customs duties, and inter-state sale of goods.
- The authority to levy a tax is coming from the Constitution which allocates the power to levy various taxes between the Centre and the State.
Answer: Option [A]Disinvestment in Public Sector is called Privatisation. Disinvestment is the process in which a certain percentage of shares of public sector units are disinvested to the private sector. It is also known as privatization. Disinvestments can take the form of divestment or a reduction of capital expenditures (CapEx). Disinvestment is carried out for a variety of reasons, such as strategic, political, or environmental.
Answer: Option [B]Rate of interest is determined by Commercial Banks. Interest rates are determined, in large part, by central banks who actively commit to maintaining a target interest rate. They do so by intervening directly in the open market through open market operations (OMO), buying or selling Treasury securities to influence short-term rates.
Answer: Option [D]The correct answer is aspects of generation of black money, its transfer abroad and bringing back such money into India’s legitimate financial system.
Answer: Option [A]The correct answer is Power and transportation. The tertiary sector covers a wide range of activities from commerce to administration, transport, financial and real estate activities, business and personal services, education, health and social work.
Answer: Option [C]A mixed economy refers to an economic system where both the government and the private sectors operate sectors operate simultaneously. A mixed economic system is a system that combines aspects of both capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims.
Answer: Option [A]A Black Market is a situation where in Goods are sold secretly. A black market is any market where the exchange of goods and services takes place in order to facilitate the transaction of illegal goods or to avoid government oversight and taxes, or both.