Government Budget and the Economy MCQs Mock Test of Class 12th Economics

Welcome to your Government Budget and the Economy MCQs Mock Test of Class 12th Economics

1. 
Question 1. The duration of the Government budget is:

2. 
Question 2. Budget is presented in the Parliament by:

3. 
Question 3. Budget speech in Lok Sabha is given by:

4. 
Question 4. Professional tax is imposed by:

5. 
Question 5. From the following which is included in the direct tax:

6. 
Question 6. Who issues 1 rupee note in India:

7. 
Question 7. An annual statement of the estimated receipts and expenditure of the government over the fiscal year is known as

8. 
Question 8. Which of the following is an example of direct tax?

9. 
Question 9. What is the period of a fiscal year?

10. 
Question 10. When government spends more than it collects by way of revenue, it incurs ______

11. 
Question 11. The fiscal deficit is the difference between the government’s total expenditure and its total receipts excluding ______

12. 
Question 12. Which of the following is the component of a budget?

13. 
Question 13. What is the annual statement of the government’s fiscal revenue and fiscal expenditure known?

14. 
Question 14. How many types of revenue receipts are there?

15. 
Question 15. The non-tax revenue in the following is:

16. 
Question 17. Direct tax is called direct because it is collected directly from:

17. 
Question 18. Financial Year in India is:

18. 
Question 19. The amount collected by the government as taxes and duties is known as _______

19. 
Question 20. The amount collected by the government in the form of interest, fees, and dividends is known as ________

20. 
Question 21. Borrowing in the government budget is:

21. 
Question 22. Which objectives government attempts to obtain by Budget

22. 
Question 23. Which is a component of Budget?

23. 
Question 24. Which is a component of the Budget Receipt?

24. 
Question 25. Tax revenue of the Government includes :

25. 
Question 26. Which is included in the Direct Tax?

26. 
Question 27. Which is included in Indirect Tax?

27. 
Question 28. The expenditures which do not create assets for the government is called :

28. 
Question 29. Direct tax is :

29. 
Question 30. In India, one rupee note is issued by:

30. 
Question 31. Capital budget consist of:

31. 
Question 32. Which of the following is an indirect tax?

32. 
Question 33. Which type of expenditure is made in bridge construction?

33. 
Question 34. Which of the following budget is suitable for developing economies?

34. 
Question 35. What is the duration of a Budget?

35. 
Question 36. Which of the following is included in fiscal policy?

36. 
Question 37. Which of the following is the capital expenditure of the government?

37. 
Question 38. The budget may include:

38. 
Question 39. Which of the following statement is true?

39. 
Question 40. Budget:

40. 
Question 41. In an unbalanced budget:

41. 
Question 42. Which is included in indirect tax?

42. 
Question 44. Which one of the following is a pair of direct tax?

43. 
Question 45. Which of the following is not a revenue receipt?

44. 
Question 46. Which of the following is a correct measure of the primary deficit?

45. 
Question 48. Direct tax is :

46. 
Question 49. In India, one rupee note is issued by:

47. 
Question 50. Capital budget consist of:

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