Economy Current Affairs Quiz/Questions-Answers November 2011, November 21-November 27

Taking the Economy Current Affairs Quiz will test as well as enhance your knowledge on economy related issues. Moreover the Economy Current Affairs Quiz for November 2011 will help you in the preparation for different competitive examination like that of Bank PO, MBA, NABARD, RBI, Railway, SSC, Civil Services Exam etc.

1.    According to government data released on 18 November 2011, the Consumer Price Index (CPI) was pushed up by what percent in October2011 due to costlier food and clothing?
a.    0.97%
b.    1.00%
c.    1.23%
d.    1.5%
Answer: (a)

2.    The double impact of rupee depreciation and the slide in the sensex led to a fall of what percent in the value of investments of the foreign institutional investors (FIIs)in the last six months beginning May 2011?
a.    19.1%
b.    21%
c.    23%
d.    26.7%
Answer: (c)

3.    Government’s indirect taxes body released in November 2011 a revised concept paper on taxation of services on the basis of a negative list, making some additions and deletion to the first paper published in August 2011.
Which of the following facts related to the above statement is not true?
1.    22 services will be under the negative list, or exempt from tax, as against 27 proposed in the earlier draft.
2.    The shift to a negative list will mean that all services except those mentioned in the list will be taxed, providing clarity on services that will be taxed and widening the service tax base.
3.    The negative list approach will help to widen the tax base for services.
4.    The revised concept paper proposed not to exempt from tax these services healthrelated services, those relating to agriculture, horticulture and animal husbandry and passenger travel by non-AC second-class trains.
a.    1
b.    1 & 3
c.    2 & 3
d.    Only 4
Answer: (d)

4.    Department of Industrial Policy and Promotion (DIPP) on 22 November 2011 moved a Cabinet note, proposing what per cent foreign direct investment (FDI) in domestic airlines?
a.    25%
b.    26%
c.    49%
d.    51%
Answer: (b)

5.    Union cabinet on 24 November 2011 approved what per cent foreign direct investment (FDI) in multi-brand retail?
a.    49%
b.    100%
c.    51%
d.    26%
Answer: (c)

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