CBSE Class 12 Economics Government Budget and the Economy Quiz 4

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

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1. Which of the following statement is true?

A Fiscal deficit is the difference between total expenditure and total receipts B Primary deficit is the difference between total receipt and interest payments C Fiscal deficit is the sum of primary deficit and interest payment D All of these

2. Budget:

A is a description of income-expenditure of government B is a document of the economic policy of the government C is a description of non-programs of the government D All of these

3. In an unbalanced budget:

A Income is greater than expenditure B Expenditure is higher relative to income C Deficit is covered by loans or printing of notes D Only (b) and (c)

4. Which is included in indirect tax?

A Income tax B Wealth tax C Excise Duty D Gift tax

5. Which one of the following is a pair of direct tax?

A Excise duty and Wealth Tax B Service Tax and Income Tax C Excise Duty and Service Tax D Wealth Tax and Income Tax

6. Which of the following is not a revenue receipt?

A Recovery of Loans B Foreign Grants C Profits of Public Enterprise D Wealth Tax

7. Which of the following is a correct measure of the primary deficit?

A Fiscal deficit minus revenue deficit B Revenue deficit minus interest payments C Fiscal deficit minus interest payments D Capital expenditure minus revenue expenditure

8. The duration of the Government budget is:

A 5 years B 2 years C 1 year D 10 years

9. Budget is presented in the Parliament by:

A Prime Minister B Home Minister C Finance Minister D Defence Minister

10. Budget speech in Lok Sabha is given by:

A President B Prime Minister C Finance Minister D Home Minister

Practice more on Government Budget and the Economy

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