Q. An annual statement of the estimated receipts and expenditure of the government over the fiscal year is known as
✅ Correct Answer: (A)
Budget
Government Budget and the Economy MCQs with answers
Dear candidates you will find MCQ questions of 12th Class - Economics - Macroeconomics (Introductory Macroeconomics) | Chapter: Government Budget and the Economy here. Learn these questions and prepare yourself for coming examinations. You can check the right answer of any question by clicking the option or by clicking view answer button.
All subjects and chapters of 12th Class are listed below. You can select any subject and chapter below to learn mcq questions of that chapter and subject.
Q. When government spends more than it collects by way of revenue, it incurs ______
✅ Correct Answer: (B)
Budget deficit
Q. The fiscal deficit is the difference between the government’s total expenditure and its total receipts excluding ______
✅ Correct Answer: (C)
Borrowings
Q. Which of the following is the component of a budget?
✅ Correct Answer: (C)
Both of these
Q. What is the annual statement of the government’s fiscal revenue and fiscal expenditure known?
✅ Correct Answer: (B)
Fiscal Budget
Q. The amount collected by the government as taxes and duties is known as _______
✅ Correct Answer: (B)
Tax revenue receipts
Q. The amount collected by the government in the form of interest, fees, and dividends is known as ________
✅ Correct Answer: (C)
Non-tax revenue receipts
Q. The primary deficit in a government budget will be zero, when _______
✅ Correct Answer: (D)
Fiscal deficit is equal to interest payment
Q. Direct tax is called direct because it is collected directly from:
✅ Correct Answer: (D)
The income earners
Q. Which objectives government attempts to obtain by Budget
✅ Correct Answer: (D)
All of the above
Q. The expenditures which do not create assets for the government is called :
✅ Correct Answer: (A)
Revenue Expenditure
Q. In India, one rupee note is issued by:
✅ Correct Answer: (B)
Finance Ministry of Government of India
Q. Capital budget consist of:
✅ Correct Answer: (A)
Capital Receipts and Capital Expenditure
Q. Which type of expenditure is made in bridge construction?
✅ Correct Answer: (A)
Capital Expenditure
Q. Which of the following budget is suitable for developing economies?
✅ Correct Answer: (A)
Deficit Budget
Q. Which of the following is included in fiscal policy?
✅ Correct Answer: (D)
All of these
Q. Which of the following is the capital expenditure of the government?
✅ Correct Answer: (A)
Interest Payment
Q. Which of the following statement is true?
✅ Correct Answer: (C)
Fiscal deficit is the sum of primary deficit and interest payment
Q. Which one of the following is a pair of direct tax?
✅ Correct Answer: (D)
Wealth Tax and Income Tax
Q. Which of the following is not a revenue receipt?
✅ Correct Answer: (A)
Recovery of Loans
Q. Which of the following is a correct measure of the primary deficit?
✅ Correct Answer: (C)
Fiscal deficit minus interest payments
Q. From the following which is included in the direct tax:
✅ Correct Answer: (C)
Both A and B
12th Class mcqs download, 12th Class mcqs pdf free download, 12th Class free pdf download, 12th Class mcq questions, 12th Class ncert book pdf download,