Question 2 :
Which among the following is a source of non-tax revenue for the government?
Question 3 :
Grants, a part of the revenue expenditure of the government, refers to all the grants given by the state government to the central government.
Question 5 :
Which of the following is a component of the capital receipts of the government?
Question 6 :
The classical economists believed that the government can rescue the people in times of economic distortions through unbalanced budgets.
Question 7 :
Budget expenditure refers to the estimated expenditure of the government during a given fiscal year.
Question 10 :
When a country's export is higher than the imports, the net earning from trade is ___________.
Question 11 :
Which among the following is a component of revenue expenditure of the government?
Question 13 :
Select the incorrect statements about 'capital consumption' from the given choices, using the code given below:<br>1. The situation when due to the losses of a company in consecutive years make it obliged to pay its current expanses using its capital base.<br>2. A situation when the listed firms under report their losses so that they can take higher benefits of depreciation.<br>3. The process by which a company shows higher loss in its operation to withholds payments of dividends to its various share holders.
Question 15 :
The classical economists considered the balanced budget to be neutral in its effects on the economy.
Question 17 :
A deficit budget leads to an increase in the liability of the government or a decrease in its reserves.
Question 18 :
___________ refers to the claim of the government on the property of a deceased person, in case, no legal heir or will is left behind.
Question 19 :
Tax revenue is the main source of regular receipts of the government.
Question 20 :
The expenditure incurred by the government which is out of the scope of government plans due to calamities is termed as __________.
Question 21 :
Government expenditure is a component of the ____________ in the economy
Question 22 :
When the estimated government receipts are more than the estimated government expenditure, the budget is known to be a ___________ budget.
Question 23 :
The ___________ net earning from foreign trade is added to the national income of the country.
Question 24 :
A deficit budget proves to be useful during the periods of ____________.
Question 25 :
Which of the following is correct about the 'committed expenditures' of the government?<br>1. Expenditures on interest payment due to internal and external borrowings.<br>2. Expense in the name of the 'charged expenditure'.<br>3. Expenditures due to pensions and provident fund liabilities.
Question 26 :
Expenditure incurred by the government for the provision of essential services like judiciary, defence, and administration is termed as ____________.
Question 27 :
The budget where the government revenue is equal to the government expenditure is termed as ___________.
Question 28 :
Government's consumption expenditure is incurred on:<br>i. Defence services<br>ii. Judiciary system<br>iii. Construction on roads<br>iv. Public utilities<br>v. Telecom infrastructure development<br>vi. Provision of social security
Question 30 :
____________ refers to all those revenue receipts of the government which are not a part of the tax receipts.
Question 31 :
The income received by a country through exports, in the form of _____________, can be utilized by the country to import required goods and services.
Question 32 :
The concept of balanced budget has been advocated by the _____________ economists.
Question 33 :
_________ expenditure refers to the expenditure incurred by the government on various programmes in the plan.
Question 34 :
__________ receipts are those monetary receipts which either creates a liability or leads to a reduction in the assets of the government.
Question 36 :
What are ways that can be used by the government to correct inflationary gap using surplus budget?
Question 37 :
____________ expenditure is incurred for the smooth functioning of the government departments and its various services.
Question 38 :
The budget which has gaps between the government revenue and public expenditure is termed as the ___________ budget.
Question 41 :
A surplus budget is useful in correcting inflationary gap by lowering the level of _____________.
Question 42 :
Which of the following is a component of the capital budget?
Question 45 :
Which type of expenditure is incurred by the government for the economic and social development of the country?
Question 46 :
When the estimated government receipts are less than the estimated government expenditure, the budget is termed as ___________ budget.
Question 47 :
Taxes levied on personal income, profits of the corporate, wealth and property is termed as ________ tax.
Question 48 :
_____________ economists believed that the policy of balanced budget may not always be suitable for the economy.
Question 49 :
When the net earning from foreign trade is zero, it largely impacts the national income.
