MCQ Economics Class 12 Chapter 5 Government Budget & Economy Advertisement MacroeconomicsMCQ’s For All Chapters – Macroeconomics Class 12th 1. In the context of government budget, which of the following statements is correct ?Budget is a statement of expected annual receipts and expenditures of the governmentIt is a detail of actual receipts and expenditures of the government in a financial yearIt offers a detailed description of achievements of the government during the 5 year plansIt indicates BoP status of the economyQuestion 1 of 202. Which of the following is a non- tax receipt ?Gift taxSales taxGift and grantsExcise dutyQuestion 2 of 203. Regressive tax is that which is :Charged at an increasing rate when income of the individual increasesCharged at a decreasing rate when income of the individual increasesRelatively a low percentage of an individual’s incomeA fixed percentage of an individual’s incomeQuestion 3 of 204. Which one of the following is indirect tax ?Wealth taxExcise dutyIncome taxNone of theseQuestion 4 of 205. Which of the following are capital receipts of the government ?Recovery of loansBorrowingsDisinvestmentAll of theseQuestion 5 of 206. Capital expenditure is that estimated expenditure of the government which?Assets are increasedliability is decreasedBoth (a) and (b)Assets and liabilities do not changeQuestion 6 of 207. Deficit budget refers to that situation in which government’s budget expenditure is :less than its budget receiptsMore than its budget receiptsEqual to its budget receiptsNone of theseQuestion 7 of 208. Fiscal deficit=Total expenditure – total receipt other than borrowingRevenue expenditure- revenue receiptsCapital expenditure – capital receiptsRevenue expenditure + Capital expenditure - revenue receiptsQuestion 8 of 209. Surplus budget is that budget where in :Estimated revenue of the government < estimated expenditure of the governmentEstimated revenue of the government > estimated expenditure of the governmentEstimated revenue of the government = estimated expenditure of the governmentNone of theseQuestion 9 of 2010. Which of the following is the capital expenditure of the government?Interest PaymentPurchase of HouseExpenses on MachineryAll of the aboveQuestion 10 of 2011. When government spends more than it collects by way of revenue, it incurs____Budget surplusBudget deficitCapital expenditureRevenue expenditureQuestion 11 of 2012. Which of the following statement is true?Fiscal deficit is the difference between total expenditure and total receiptsPrimary deficit is the difference between total receipt and interest paymentsFiscal deficit is the sum of primary deficit and interest paymentAll of theseQuestion 12 of 2013. Which is included in the Direct Tax?Income TaxGift TaxBoth (a) and (b)Excise DutyQuestion 13 of 2014. The fiscal deficit is the difference between the government’s total expenditure and its total receipts excluding_____InterestTaxesSpendingBorrowingsQuestion 14 of 2015. Which is included in Indirect Tax?Excise DutySales TaxBoth (a) and (b)Wealth TaxQuestion 15 of 2016. What is the annual statement of the government’s fiscal revenue and fiscal expenditure known?BudgetFiscal BudgetCapital BudgetAll of theseQuestion 16 of 2017. An annual statement of the estimated receipts and expenditure of the government over the fiscal year is known asBudgetIncome estimatesAccountExpenditureQuestion 17 of 2018. How many types of revenue receipts are there?2346Question 18 of 2019. Who issues 1 rupee note in India:Reserve Bank of IndiaFinance Ministry of IndiaState Bank of IndiaNone of theseQuestion 19 of 2020. Which of the following are the objectives of government budget ?Redistribution of income and wealthEconomy stabilityBoth (a) and (b)None of theseQuestion 20 of 20 Loading...
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