Economics Government Budget and the Economy MCQ Question Answers

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

2. Which is a component of Budget?

3. Capital budget consists of:

4. An economy in which there is both the private sector and the Government is known as a

5. Borrowing in the government budget is referred as:

6. Budgetary deficits must be financed by

7. What refers to the excess of government’s revenue expenditure over revenue receipts?

8. Examples of such goods are national defence, roads, government administration etc. which are referred to as

9. The intervention of the government whether to expand demand or reduce it constitutes the

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

11. Government deficit can be reduced by an increase in ______or reduction in _________.

12. __________consist of interest payments minus interest receipts by the government on net domestic lending

13. _________= Net borrowing at home + Borrowing from RBI + Borrowing from abroad

14. Non-plan capital expenditure covers which of the following Service?

15. Full form of SLR

16. When government spends more than it collects by way of revenue, it incurs __

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

18. How many types of revenue receipts are there?

19. Which of the following is the capital expenditure?

20. Which expenditure is committed and can’t be reduced?