The New Economics Policy was introduced by Vladimir Ilyich Lenin (1870-1924). He was founder of modern communist Russia. He was the leader of Soviet Revolution of October 1917 . He liberated the country from the Czars and became Head of its first Communist Government (1917-1924) . He dedicated himself to the cause of workers’ revolution.

Correct Option: A

The New Economics Policy was introduced by Vladimir Ilyich Lenin (1870-1924). He was founder of modern communist Russia. He was the leader of Soviet Revolution of October 1917 . He liberated the country from the Czars and became Head of its first Communist Government (1917-1924) . He dedicated himself to the cause of workers’ revolution.

Custom duty is a tax on imports imposed on an ad valorem basis, i.e, fixed in the form of a percentage on the value of the commodity imported.

Correct Option: B

Custom duty is a tax on imports imposed on an ad valorem basis, i.e, fixed in the form of a percentage on the value of the commodity imported.

Direct tax is a tax levied directly on the person or company that has to pay it. These taxes are paid directly to the tax authority.

Correct Option: C

Direct tax is a tax levied directly on the person or company that has to pay it. These taxes are paid directly to the tax authority.

Loans are not included in the current revenue of the Union Government.

Correct Option: C

Loans are not included in the current revenue of the Union Government.

Joseph E. Stiglitz, a Nobel laureate in economics, has pointed how lack of opportunity leads to widening of inequality. It leads to concentration of income and wealth at the top, the hollowing out of the middle, and increasing poverty at the bottom.

Correct Option: B

Joseph E. Stiglitz, a Nobel laureate in economics, has pointed how lack of opportunity leads to widening of inequality. It leads to concentration of income and wealth at the top, the hollowing out of the middle, and increasing poverty at the bottom.