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

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

  • Revenue deficit is zero
  • Net interest payments are zero
  • Fiscal deficit is zero
  • Fiscal deficit is equal to interest payment

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

  • The producers on goods produced
  • The sellers on goods sold
  • The buyers of goods
  • The income earners

  • 3. 
    Financial Year in India is:

  • April I to March 31
  • January 1 to December 31
  • October 1 to September 30
  • None of the above

  • 4. 
    Which objectives government attempts to obtain by Budget

  • To Promote Economic Development
  • Balanced Regional Development
  • Redistribution of Income and Wealth
  • All the above

  • 5. 
    Which is a component of Budget?

  • Budget Receipts
  • Budget Expenditure
  • Both (a) and (b)
  • None of the above

  • 6. 
    Which is a component of the Budget Receipt?

  • Revenue Receipt
  • Capital Receipt
  • Both (a) and (b)
  • None of the above

  • 7. 
    Tax revenue of the Government includes :

  • Income Tax
  • Corporate Tax
  • Excise Duty
  • All of these

  • 8. 
    Which is included in the Direct Tax?

  • Income Tax
  • Gift Tax
  • Both (a) and (b)
  • Excise Duty

  • 9. 
    Which is included in Indirect Tax?

  • Excise Duty
  • Sales Tax
  • Both (a) and (b)
  • Wealth Tax

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

  • Revenue Expenditure
  • Capital Expenditure
  • Both (a) and (b)
  • None of the above
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