CBSE Class 12 Economics Government Budget and the Economy Quiz 1

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CBSE › Class 12 › Economics › Government Budget and the Economy

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1. What is the period of a fiscal year?

A 1 April to 31 March B 1 January to 31 December C 1 March to 28 February D None of these

2. When government spends more than it collects by way of revenue, it incurs ______

A Budget surplus B Budget deficit C Capital expenditure D Revenue expenditure

3. The fiscal deficit is the difference between the government’s total expenditure and its total receipts excluding ______

A Interest B Taxes C Spending D Borrowings

4. Which of the following is the component of a budget?

A Fiscal budget B Capital budget C Both of these D None of these

5. What is the annual statement of the government’s fiscal revenue and fiscal expenditure known?

A Budget B Fiscal Budget C Capital Budget D All of these

6. How many types of revenue receipts are there?

A 2 B 3 C 4 D 6

7. The amount collected by the government as taxes and duties is known as _______

A Capital receipts B Tax revenue receipts C Non-tax revenue receipts D All of these

8. The amount collected by the government in the form of interest, fees, and dividends is known as ________

A Tax-revenue receipts B Capital receipts C Non-tax revenue receipts D None of these

9. Borrowing in the government budget is:

A Revenue deficit B Fiscal deficit C Primary deficit D Deficit in taxes

10. The non-tax revenue in the following is:

A Export duty B Import duty C Dividends D Excise

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