CBSE Class 12 Economics Government Budget and the Economy Quiz 2

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

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1. The primary deficit in a government budget will be zero, when _______

A Revenue deficit is zero B Net interest payments are zero C Fiscal deficit is zero D Fiscal deficit is equal to interest payment

2. Direct tax is called direct because it is collected directly from:

A The producers on goods produced B The sellers on goods sold C The buyers of goods D The income earners

3. Financial Year in India is:

A April I to March 31 B January 1 to December 31 C October 1 to September 30 D None of the above

4. Which objectives government attempts to obtain by Budget

A To Promote Economic Development B Balanced Regional Development C Redistribution of Income and Wealth D All the above

5. Which is a component of Budget?

A Budget Receipts B Budget Expenditure C Both (a) and (b) D None of the above

6. Which is a component of the Budget Receipt?

A Revenue Receipt B Capital Receipt C Both (a) and (b) D None of the above

7. Tax revenue of the Government includes :

A Income Tax B Corporate Tax C Excise Duty D All of these

8. Which is included in the Direct Tax?

A Income Tax B Gift Tax C Both (a) and (b) D Excise Duty

9. Which is included in Indirect Tax?

A Excise Duty B Sales Tax C Both (a) and (b) D Wealth Tax

10. The expenditures which do not create assets for the government is called :

A Revenue Expenditure B Capital Expenditure C Both (a) and (b) D None of the above

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