Economy Quiz

10 Questions

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Economy Quizzes & Trivia

Questions and Answers
  • 1. 
     If interest payment is deducted from the fiscal deficit, then the balance is— 
    • A. 

      Primary deficit

    • B. 

      Budgetary deficit

    • C. 

      Revenue deficit

    • D. 

      Monetary deficit

  • 2. 
    Which is the characteristic of a tax ? 
    • A. 

      Tax is a payment for government service

    • B. 

      Tax is a compulsory payment

    • C. 

      Tax is voluntary

    • D. 

      To get benefit for a tax is compulsory

  • 3. 
    Which government income is included in revenue budget ? 
    • A. 

      Tax-revenue

    • B. 

      Non-tax-revenue

    • C. 

      Both of above

    • D. 

      None of the above

  • 4. 
    Which is included in Capital budget ? 
    • A. 

      Income received from public borrowings

    • B. 

      Income received from tax-sources

    • C. 

      Income received from non-tax sources

    • D. 

      All of the above

  • 5. 
    Which is not included in the principles of public expenditure as developed by Findley Shirras ? 
    • A. 

      Principle of Economy

    • B. 

      Principle of Sanction

    • C. 

      Principle of Elasticity

    • D. 

      Principle of Surplus

  • 6. 
    Which of the following is the largest significant factor of revenue expenditure of Central Government ? 
    • A. 

      Defense Expenditure

    • B. 

      Subsidy

    • C. 

      Interest Payment

    • D. 

      Salary

  • 7. 
    In comparison to revenue deficit; the size of fiscal deficit is always— 
    • A. 

      Higher

    • B. 

      Smaller

    • C. 

      Similar

    • D. 

      Uncertain

  • 8. 
    What is CENVAT ? 
    • A. 

      Direct Tax

    • B. 

      Indirect Tax

    • C. 

      Development Planning

    • D. 

      None of the above

  • 9. 
    Where is Indian Diamond Institute (IDI) established ? 
    • A. 

      New Delhi

    • B. 

      Mumbai

    • C. 

      Surat

    • D. 

      Jaipur

  • 10. 
    What is the nature of income tax in India ? 
    • A. 

      Proportional

    • B. 

      Progressive

    • C. 

      Regressive

    • D. 

      None of the above