India bans some currency to catch tax cheats

Nov. 14, 2016

Q: India scrapped 1,000 and 500 rupee notes last week in a bid to flush out tax evaders. The banknotes are worth about $7 and $14 and represent more than 85% of cash in circulation in India. Where is India?

Circle the area on this map

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Q: Indians are mobbing banks to exchange or deposit their hordes of the old banknotes. By forcing citizens to use banks, the government hopes to track and tax money that has been hidden in India’s “black economy” of undeclared cash transactions. India is the world’s SECOND . . .

A. Largest economy

B. Most populous nation

C. Poorest nation

Q: While India’s economy is highly dependent on cash, which of these countries uses the least cash?

A. Brazil

B. Russia

C. Sweden

D. United States

Q: India has one of the fastest growing economies in the world. Most of India’s workers are employed in . . .

A. Agriculture

B. Industry

C. Services

Q: The Indian government subsidizes farmers and sells farm goods at a loss to help feed the nation’s poor – nearly 30% of the population. Some subsidized farmers burning crop stubble contributed to severe air pollution last week in the nation’s capital . . .

A. Bangalore

B. Kolkata

C. Mumbai

D. New Delhi

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Answers for this quiz: Click here