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

  • 1. 
    What is the period of a fiscal year?

  • 1 April to 31 March
  • 1 January to 31 December
  • 1 March to 28 February
  • None of these

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

  • Budget surplus
  • Budget deficit
  • Capital expenditure
  • Revenue expenditure

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

  • Interest
  • Taxes
  • Spending
  • Borrowings

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

  • Fiscal budget
  • Capital budget
  • Both of these
  • None of these

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

  • Budget
  • Fiscal Budget
  • Capital Budget
  • All of these

  • 6. 
    How many types of revenue receipts are there?

  • 2
  • 3
  • 4
  • 6

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

  • Capital receipts
  • Tax revenue receipts
  • Non-tax revenue receipts
  • All of these

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

  • Tax-revenue receipts
  • Capital receipts
  • Non-tax revenue receipts
  • None of these

  • 9. 
    Borrowing in the government budget is:

  • Revenue deficit
  • Fiscal deficit
  • Primary deficit
  • Deficit in taxes

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

  • Export duty
  • Import duty
  • Dividends
  • Excise
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