Question 1 :
When the estimated government receipts are more than the estimated government expenditure, the budget is known to be a ___________ budget.
Question 2 :
The concept of balanced budget has been advocated by the _____________ economists.
Question 3 :
As per the provisions of the FRBM Act. along with the Budget and Demands for Grants the Gol needs to lay which of the following statements before the Parliament in each financial year. select the correct answer using the code given below: <br/>1. Fiscal Policy Strategy Statement IFPSS) <br/>2. Medium Term Fiscal Policy Statement I MTFPS) <br/>3. Macroeconomic Framework Statement (MFS)
Question 4 :
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 6 :
The classical economists believed that the government can rescue the people in times of economic distortions through unbalanced budgets.
Question 7 :
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 8 :
When a country's export is higher than the imports, the net earning from trade is ___________.
Question 9 :
The budget where the government revenue is equal to the government expenditure is termed as ___________.
Question 10 :
Which of the following is a component of the capital receipts of the government?
Question 11 :
When the net earning from foreign trade is zero, it largely impacts the national income.
Question 14 :
Which among the following is a component of revenue expenditure of the government?
Question 15 :
Which type of expenditure is incurred by the government for the economic and social development of the country?
Question 20 :
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 21 :
Expenditure incurred by the government for the provision of essential services like judiciary, defence, and administration is termed as ____________.
Question 22 :
The expenditure incurred by the government which is out of the scope of government plans due to calamities is termed as __________.
Question 23 :
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 24 :
Budget expenditure refers to the estimated expenditure of the government during a given fiscal year.
Question 25 :
Taxes levied on personal income, profits of the corporate, wealth and property is termed as ________ tax.
Question 26 :
Which of the following is a component of the capital budget?
Question 29 :
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 30 :
The budget which has gaps between the government revenue and public expenditure is termed as the ___________ budget.
Question 31 :
____________ refers to all those revenue receipts of the government which are not a part of the tax receipts.
Question 32 :
A deficit budget proves to be useful during the periods of ____________.
Question 33 :
The ___________ net earning from foreign trade is added to the national income of the country.
Question 34 :
_____________ budget includes receipts of the government through tax and non-tax sources and that expenditure which doesn't affect the assets and liabilities of the government.
Question 35 :
_________ expenditure refers to the expenditure incurred by the government on various programmes in the plan.
Question 36 :
The classical economists considered the balanced budget to be neutral in its effects on the economy.
Question 38 :
What are ways that can be used by the government to correct inflationary gap using surplus budget?
Question 39 :
Government expenditure is a component of the ____________ in the economy
Question 41 :
When the estimated government receipts are less than the estimated government expenditure, the budget is termed as ___________ budget.
Question 42 :
Tax revenue is the main source of regular receipts of the government.
Question 44 :
_____________ economists believed that the policy of balanced budget may not always be suitable for the economy.
Question 45 :
Which among the following is a source of non-tax revenue for the government?
Question 48 :
__________ receipts are those monetary receipts which either creates a liability or leads to a reduction in the assets of the government.
Question 49 :
A deficit budget leads to an increase in the liability of the government or a decrease in its reserves.
Question 50 :
___________ refers to the claim of the government on the property of a deceased person, in case, no legal heir or will is left behind.
