Government Budget And Economy CBSE Questions & Answers

Government Budget And Economy

This is Economics Class 12 Government Budget and Economy CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
The government budget is an
  • A
    Half yearly statement
  • B
    Weekly statement
  • C
    Five yearly statement
  • D
    Annual statement
    Correct
2
The government budget shows the government’s
  • A
    Actual receipts and expenditure
  • B
    Estimated receipts only
  • C
    Estimated expenditure only
  • D
    Estimated receipts and expenditure
    Correct
3
One of the objectives of the government budget is
  • A
    Regeneration of income and wealth
  • B
    Reallocation of income and wealth
  • C
    Redistribution of income only
  • D
    Redistribution of income and wealth
    Correct
4
One of the two components of government budget are
  • A
    Revenue budget
    Correct
  • B
    Investment budget
  • C
    Income budget
  • D
    Expenditure budget
5
One more of the two components of government budget are
  • A
    Expenditure budget
  • B
    Capital budget
    Correct
  • C
    Investment budget
  • D
    Income budget
6
One of the two components of Revenue budget are
  • A
    Investment receipts
  • B
    Expenditure receipts
  • C
    Income receipts
  • D
    Revenue receipts
    Correct
7
One of the other two components of Revenue budget are
  • A
    Income budget
  • B
    Investment Expenditure
  • C
    Revenue expenditure
    Correct
  • D
    Budget Expenditure
8
One of the two components of Capital budget are
  • A
    Investment receipts
  • B
    Capital receipts
    Correct
  • C
    Expenditure receipts
  • D
    Revenue receipts
9
One of the other two components of Capital budget are
  • A
    Capital expenditure
    Correct
  • B
    Investment Expenditure
  • C
    Income budget
  • D
    Budget Expenditure
10
One of the two components of government Revenue in the budget are
  • A
    Revenue Expenditure
  • B
    Budget receipts
  • C
    Revenue receipts
    Correct
  • D
    Expenditure receipts
11
One of the other two components of government Revenue in the budget are
  • A
    Expenditure receipts
  • B
    Budget receipts
  • C
    Revenue Expenditure
  • D
    Capital receipts
    Correct
12
One of the two components of government expenditure in the budget are
  • A
    Expenditure receipts
  • B
    Budget receipts
  • C
    Revenue Expenditure
    Correct
  • D
    Revenue receipts
13
One of the other two components of government expenditure in the budget are
  • A
    Budget receipts
  • B
    Revenue Expenditure
  • C
    Expenditure receipts
  • D
    Capital Expenditure
    Correct
14
The major source of Revenue receipts for the government is
  • A
    Interest
  • B
    Tax Revenue
    Correct
  • C
    Profits
  • D
    Non Tax Revenue
15
Direct tax is a tax whose
  • A
    The liability to pay and incidence do not lie on the same person
  • B
    The liability to pay lies on one and incidence lies on the other person
  • C
    The liability to pay and incidence do lie on the same person
    Correct
  • D
    The liability to pay and incidence do lie on the government