CBSE Class 12 Government Budget and the Economy Multiple Choice Questions with Answers. MCQ Questions Class 12 Government Budget and the Economy with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 12 Government Budget and the Economy with Answers to know their preparation level.
Students who are searching for NCERT MCQ Questions Class 12 Government Budget and the Economy with Answers are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 12 Government Budget and the Economy with Answers. You can also verify your answers from the provided MCQ Class 12 Government Budget and the Economy with Answers. So, ace up your preparation with MCQ of Class 12 Economics Examinations.
MCQ Questions Class 12 Government Budget and the Economy with Answers - Set - 4
Question 1:Â
The duration of the Government budget is:
(a) 5 years
(b) 2 years
(c) 1 year
(d) 10 years
Correct Answer – (C)
Question 2:Â
Which of the following is not a revenue receipt?
(a) Recovery of Loans
(b) Foreign Grants
(c) Profits of Public Enterprise
(d) Wealth Tax
Correct Answer – (A)
Question 3:Â
Which is included in indirect tax?
(a) Income tax
(b) Wealth tax
(c) Excise Duty
(d) Gift tax
Correct Answer – (C)
Question 4:Â
Budget:
(a) is a description of income-expenditure of government
(b) is a document of the economic policy of the government
(c) is a description of non-programs of the government
(d) All of these
Correct Answer – (D)
Question 5:Â
The budget may include:
(a) Revenue Deficit
(b) Fiscal Deficit
(c) Primary Deficit
(d) All of these
Correct Answer – (D)
MCQ Questions Class 12 Government Budget and the Economy With Answers
Question 6:Â
Which of the following is a correct measure of the primary deficit?
(a) Fiscal deficit minus revenue deficit
(b) Revenue deficit minus interest payments
(c) Fiscal deficit minus interest payments
(d) Capital expenditure minus revenue expenditure
Correct Answer – (C)
Question 7:Â
Which one of the following is a pair of direct tax?
(a) Excise duty and Wealth Tax
(b) Service Tax and Income Tax
(c) Excise Duty and Service Tax
(d) Wealth Tax and Income Tax
Correct Answer – (D)
Question 8:Â
In an unbalanced budget:
(a) Income is greater than expenditure
(b) Expenditure is higher relative to income
(c) Deficit is covered by loans or printing of notes
(d) Only (b) and (c)
Correct Answer – (D)
Question 9:Â
Which of the following statement is true?
(a) Fiscal deficit is the difference between total expenditure and total receipts
(b) Primary deficit is the difference between total receipt and interest payments
(c) Fiscal deficit is the sum of primary deficit and interest payment
(d) All of these
Correct Answer – (C)
Question 10:Â
Which of the following is the capital expenditure of the government?
(a) Interest Payment
(b) Purchase of House
(c) Expenses on Machinery
(d) All of the above
