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Class 12 Economics
Government Budget And The Economy
Quiz 2
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Direct tax is :
0%
Income Tax
0%
Gift Tax
0%
Both (a) and (b)
0%
None of these
Explanation
Both (a) and (b)
In India, one rupee note is issued by:
0%
Reserve Bank of India
0%
Finance Ministry of Government of India
0%
State Bank of India
0%
None of these
Explanation
Finance Ministry of Government of India
Capital budget consist of:
0%
Revenue Receipts and Revenue Expenditure
0%
Capital Receipts and Capital Expenditure
0%
Direct and Indirect Tax
0%
None of these
Explanation
Capital Receipts and Capital Expenditure
Which of the following is an indirect tax?
0%
Excise Duty
0%
Sales Tax
0%
Custom Duty
0%
All of these
Explanation
All of these
Which type of expenditure is made in bridge construction?
0%
Capital Expenditure
0%
Revenue Expenditure
0%
Both (a) and (b)
0%
None of the above
Explanation
Capital Expenditure
Which of the following budget is suitable for developing economies?
0%
Deficit Budget
0%
Balanced Budget
0%
Surplus Budget
0%
None of these
Explanation
Deficit Budget
What is the duration of a Budget?
0%
Annual
0%
Two Years
0%
Five Years
0%
Ten Years
Explanation
Annual
Which of the following is included in fiscal policy?
0%
Public Expenditure
0%
Tax
0%
Public Debt
0%
All of these
Explanation
All of these
Which of the following is the capital expenditure of the government?
0%
Interest Payment
0%
Purchase of House
0%
Expenses on Machinery
0%
All of the above
Explanation
Interest Payment
The budget may include:
0%
Revenue Deficit
0%
Fiscal Deficit
0%
Primary Deficit
0%
All of these
Explanation
All of these
Budget:
0%
is a description of income-expenditure of government
0%
is a document of the economic policy of the government
0%
is a description of non-programs of the government
0%
All of these
Explanation
All of these
In an unbalanced budget:
0%
Income is greater than expenditure
0%
Expenditure is higher relative to income
0%
Deficit is covered by loans or printing of notes
0%
Only (b) and (c)
Explanation
Only (b) and (c)
Which is included in indirect tax?
0%
Income tax
0%
Wealth tax
0%
Excise Duty
0%
Gift tax
Explanation
Excise Duty
Which one of the following is a pair of direct tax?
0%
Excise duty and Wealth Tax
0%
Service Tax and Income Tax
0%
Excise Duty and Service Tax
0%
Wealth Tax and Income Tax
Explanation
Wealth Tax and Income Tax
Which of the following is not a revenue receipt?
0%
Recovery of Loans
0%
Foreign Grants
0%
Profits of Public Enterprise
0%
Wealth Tax
Explanation
Recovery of Loans
Which of the following is a correct measure of the primary deficit?
0%
Fiscal deficit minus revenue deficit
0%
Revenue deficit minus interest payments
0%
Fiscal deficit minus interest payments
0%
Capital expenditure minus revenue expenditure
Explanation
Fiscal deficit minus interest payments
The duration of the Government budget is:
0%
5 years
0%
2 years
0%
1 year
0%
10 years
Explanation
1 year
Budget is presented in the Parliament by:
0%
Prime Minister
0%
Home Minister
0%
Finance Minister
0%
Defence Minister
Explanation
Finance Minister
Budget speech in Lok Sabha is given by:
0%
President
0%
Prime Minister
0%
Finance Minister
0%
Home Minister
Explanation
Finance Minister
Professional tax is imposed by:
0%
Central Government
0%
State Government
0%
Municipal Corporation
0%
Gram Panchayat
Explanation
State Government
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