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Class 12 Economics (Macro Economics) Chapter 5 Government Budget And The Economy Quiz 3 (25 MCQs)

Quiz Instructions

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1. Disinvestment comes under which category?
2. Those receipts which do not create any corresponding liability for the government are called:
3. Corporate tax is a capital receipt.
4. What is the full form of GST as mentioned in the passage?
5. What type of tax is characterized by a higher rate for higher incomes?
6. In government, budget primary deficit is ₹ 10000 crore, interest payment is ₹ 5000 crore, then fiscal deficit is ₹ ..... crore.
7. What are the three statements the central government is required to lay before both Houses of Parliament as per the passage?
8. Expenditure on salaries is an example of
9. The revenue account of the government budget is also called the .....
10. What is the formula for the government expenditure multiplier?
11. Borrowing in govt. budget is:
12. Revenue deficit is a part of fiscal deficit.
13. The programme and policies of the government as presented in the budget are know as ..... policy of the government.
14. Which of the following is a non-tax receipt?
15. Capital receipts is that receipts of the Government-
16. In the government budget, if revenue receipts = ₹ 100 lakh, capital receipt = ₹ 50 lakh and revenue deficit = ₹ 25 lakh, how much is the revenue expenditure?
17. Suppose the marginal propensity to consume is 0.75 and we have lump-sum taxes. If government purchases increase by 20, what is the change in equilibrium income?
18. It affects the assets and liabilities of the govt.
19. An annual statement of the estimated receipts and expenditure of the government over the fiscal year is known as:
20. What happens to the marginal propensity to consume (mpc) out of income when proportional taxes are introduced?
21. What is one measure to correct government deficits?
22. If borrowing and other liabilities are removed from the budget deficits we get ..... :
23. What is the main goal of the re-allocation of resources function?
24. Compare the value of the multiplier with lump-sum taxes and proportional taxes. Which one is smaller?
25. The fiscal deficit is the difference between the government's total expenditure and its total receipts excluding .....
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