Podcast
Questions and Answers
What is the primary role of the government in resource allocation according to the text?
What is the primary role of the government in resource allocation according to the text?
- To use taxation and subsidies to indirectly influence resource allocation (correct)
- To rely entirely on the market mechanism for resource allocation
- To allocate resources solely for the provision of private goods
- To provide all goods and services through the market mechanism
Which of the following is NOT mentioned as an example of a public good in the text?
Which of the following is NOT mentioned as an example of a public good in the text?
- Justice
- Security
- Education (correct)
- Defence
What is the purpose of the central government's annual budget allocation?
What is the purpose of the central government's annual budget allocation?
- To allocate resources solely for the service sector
- To allocate resources for essential activities and developmental activities (correct)
- To allocate resources solely for public goods
- To allocate resources only for private goods
How does the government use fiscal operations to affect the distribution of national income and resources?
How does the government use fiscal operations to affect the distribution of national income and resources?
What is the range of tax rates in India's direct tax system, according to the text?
What is the range of tax rates in India's direct tax system, according to the text?
What is the primary reason for the government to intervene in resource allocation, according to the text?
What is the primary reason for the government to intervene in resource allocation, according to the text?
Which of the following is NOT a factor that the government considers in adjusting resource allocation?
Which of the following is NOT a factor that the government considers in adjusting resource allocation?
What is the purpose of public expenditure on social infrastructure and subsidies, according to the text?
What is the purpose of public expenditure on social infrastructure and subsidies, according to the text?
Which of the following statements is NOT true based on the information provided in the text?
Which of the following statements is NOT true based on the information provided in the text?
What is the primary tool used by the government to promote or discourage private investment?
What is the primary tool used by the government to promote or discourage private investment?
Flashcards are hidden until you start studying
