government budget and the economy mcq

EduRev is a knowledge-sharing community that depends on everyone being able to pitch in when they know something. (b) prohibiting its sale in the school canteen. 1st April to 31st March.. 2. Ans. Free Sample Papers with solutions for Class 12 Economics,... Download past year Question Papers for Class 12 Economics as per CBSE NCERT KVS syllabus with solutions in pdf free. (a) Revenue receipts are regular in nature. Budget is a financial statement showing the expected receipt and expenditure of Govt. In a mixed economy, the private producers aim towards profit maximisation, while, the government aims towards welfare maximisation. Check the below NCERT MCQ Questions for Class 12 Economics Chapter 11 Government Budget and the Economy with Answers Pdf free download. D: Govt can withdraw some amount for a period with the assent of parliament. Download solutions for... Download latest 2021 Sample Papers for Class 12 Economics as per CBSE NCERT pattern and syllabus. OR. Find (a) Fiscal deficit and (b) Primary deficit from the following: Particulars. (a) Revenue expenditure(b) Plan expenditure(c) Non-plan expenditure(d) Capital expenditure, The document MCQs - Government Budget And The Economy Commerce Notes | EduRev is a part of the. 150, (a) Rs. Start studying MCQ TEST. Practice test sheets for Class 12 for Economics made for important topics in NCERT book 2020 2021 available for free... Download syllabus for Class 12 Economics issued by CBSE and NCERT for 2021. just for education and the MCQs - Government Budget And The Economy Commerce Notes | EduRev images and diagram are even better than Byjus! (c) Growth of taxation(d) Way in which a tax is collected.Ans: BQ.11 A tax, the burden of which can be shifted on to others, is called: (a) indirect tax(b) direct tax(c) wealth tax(d) none of theseAns: AQ.12 Which of the following is not a non-tax receipt? At present, the Constitution of India contains 448 Articles in 25 Parts and 12 Schedules. These short solved questions or quizzes are provided by Gkseries. Important updates relating to your studies which will help you to keep yourself updated with latest happenings in school level education. Learn vocabulary, terms, and more with flashcards, games, and other study tools. of MCQs - Government Budget And The Economy Commerce Notes | EduRev for Commerce, the answers and examples explain the meaning of chapter in the best manner. Science is inexplicably linked with our lives and helps us to understand the world around us better. out Commerce lecture & lessons summary in the same course for Commerce Syllabus. Non … Main objectives of budget are: (i) Reallocation of resources. (a) Fees(b) Fines(c) Gift tax(d) Grants and donationsAns: CQ.13 Tax, the impact of which lies on the person on whom it is legally imposed, is known as: (a) indirect tax(b) direct tax(c) value added tax(d) none of theseAns: BQ.14 In the context of government budget, which of the following statement is correct ? Chapter at a Glance 700(d) Rs. Tests & Videos, you can search for the same too. Answer: 2 types of revenue receipts are: Tax revenue. 1,000, (ii) Total budgeted revenue receipts    Rs. It has gotten 8804 views and also has 4.7 rating. using search above. Download CBSE Class 12 Economics Government Budget and The Economy MCQs in pdf, Economics chapter wise Multiple Choice Questions free, Question: In the context of government budget, which of the following statements is correct ?a) Budget is a statement of expected annual receipts and expenditure is correct?b) It is a detail of actual receipts and expenditures of the (a) National debts for future generation(b) Inflationary spiral, (c) Erosion of government credibility(d) All of theseAns: D, (a) Selling of its fixed capital assets(b) Selling of its buildings(c) Selling of shares of public enterprises held by it, (d) All of the aboveAns: DQ.17 The estimated income receipts of the government in the budget of 2016-17 is Rs. The private sector always tend to divert resources towards areas of high profit, while, ignoring areas of social welfare. Free PDF Download - Best collection of CBSE topper Notes, Important Questions, Sample papers and NCERT Solutions for CBSE Class 12 Economics Government Budget and the Economy. Click here... Click here to download CBSE Class 12 Economics MCQs for important topics, Download latest MCQs for Class 12 Economics, download in pdf free. Tricks for Proper Utilization of Add-On 15 Minutes introduced in CBSE Board Exams Practice Test: Question Set - 02 1. B: The economic plan which starts from April 1 does not allow the government to set economic policy. Commerce. Answer. Therefore, lower taxes will imply lower revenues for the government and a higher government budget deficit. Includes a lots of questions on Indian Economy GK and General Knowledge which can be helpful for any Competitive Exams. MCQ Questions for Class 12 Economics with Answers were prepared based on the latest exam pattern. Do check out the sample questions INVITE CODE RUBY22 Economics and Indian Economy MCQ Practice Test - Set 01 GK Indian Economy Edit ... Finance Secretary, Government of India (B) Chairman, Reserve Bank of India (C) ... I.C Engines Multiple Choice Questions with Answers - Set 02. MCQ Questions for Class 12 Economics with Answers were prepared based on the latest exam pattern. Q.1 Which of the following is not a non-tax revenue receipt ? Give two examples of indirect taxes. (a) Fines & penalties(b) Dividends(c) Commercial revenue(d) Loans from abroadAns: AQ.3 Total expenditure on national defence in India is categorized as, (a) Revenue expenditure(b) Capital expenditure. By continuing, I agree that I am at least 13 years old and have read and agree to the. (d) It indicates BOP status of the domestic economyAns: AQ.15 Which of the following is/are implication/s of fiscal deficit ? A government budget deficit means that T-G<0. The Government increases its budget deficit whilst, at the same time, the exchange rate of the £ falls. Click here to download NCERT Solutions for questions of Class 12 Economics NCERT Book. MCQs - Government Budget And The Economy Commerce Notes | EduRev notes for Commerce is made by best teachers who have written some of the best books of 1. Keep yourself updated with all latest news and also read articles from teachers which will help you to improve your studies, increase motivation level and promote faster learning. Commerce MCQs - Government Budget And The Economy Commerce Notes | EduRev Summary and Exercise are very important for C: It does not allow the government to impose a new tax. We have Provided Globalisation and the Indian Economy Class 10 Economics MCQs Questions with Answers to help students understand the … MCQs - Government Budget And The Economy Commerce Notes | EduRev chapter (including extra questions, long questions, short questions, mcq) can be found on EduRev, you can check Download all VBQ for Class 12 Economics in pdf free. The budget of the government is. 25,000 crores and its estimated expenditure is Rs. Access NCERT Solutions for Class 12 Economics. If a government is unable to pass the budget in Lok Sabha, then: a) a totally new budget is presented. Policies of the surplus budget during inflation and deficit budget during deflation helps to maintain the stability of prices in the economy. (c) Selling of shares of public enterprises held by it, Crash Course of Macro Economics -Class 12, Reason Based Questions - Government Budget And The Economy, Extra Questions - Government Budget And The Economy, Scanner - Government Budget And The Economy, (2014 - 2018), Crash Course of Micro Economics -Class 12, Crash Course of Business Studies(BST)- Class 12, TS Grewal Solutions - Class 11 Accountancy, TS Grewal Solutions - Class 12 Accountancy. (b) There is no future obligation to return the amount in case of revenue receipts. For given government spending and taxation the government budget deficit will grow in _____ and decline in _____? What are the 2 types of revenue receipts? To Study MCQs - Government Budget And The Economy Commerce Notes | EduRev for Commerce b) the budget is revised and presented again. Answer: Budget is a statement of expected annual receipts and expenditure is correct? (c) Partly each(d) ConfidentialAns: CQ.4 Escheats is an example of : (a) Capital Receipts(b) Revenue Receipts(c) Capital expenditure(d) Revenue ExpenditureAns: BQ.5 Borrowings are equivalent to : (a) Revenue deficit(b) Primary deficit(c) Fiscal deficit(d) None of theseAns: CQ.6 Union Budget is the budget of : (a) Central Government(b) Local Government(c) State Government(d) Election CommissionAns: AQ.7 Policies of surplus budget during inflation” is a part of which objective of government budget, (a) Economic Growth(b) Economic Stability, (c) Reducing Regional Disparities(d) Reallocation of ResourcesAns: BQ.8 Identify the non-tax revenue from the following statement: “ it refers to claim of the government on the property of a person who dies without leaving behind any legal heir or a wil l”, (a) Special Assessment(b) Escheats(c) Forfeitures(d) FeesAns: B. Q.9 Which one of the following statements is incorrect ? Question Answer, MCQ for GK, General Knowledge on Indian Economy, Planning Commission, Budget, Money. (c) Capital receipts either create an asset or cause a reduction in the liabilities. EduRev is like a wikipedia Scientific and technological developments contribute to progress and help improve our standards of living. Answer: Charged at a decreasing rate when income of the individual increases, Answer: Total expenditure – total receipt other than borrowing, Answer:  Estimated revenue of the government > estimated expenditure of the government, Read the latest news and announcements from NCERT and CBSE below. The MCQs of Economics cover all the chapters and topics, giving students maximum exposure to each topic of Economics. In this class, Ruby Rawat will conduct revision based on questions and numericals of Government Budget and Economy and PYQs of the topic.This class will be beneficial for CBSE Class 12 aspirants at any level of their preparations. Introduction. (a) imposing heavy tax on it. A tax is called an indirect tax when … Extra Question for Class 12 Economics Government Budget and the Economy. 300(c) Rs. MCQ I macro economics I government budget & economy I class 12 Hello learners.....welcome to management classes with pallavi. 100 Important Budget Questions [2020] | Most Expected MCQs The Finance Minister, Smt. MCQ Questions for Class 10 Social Science with Answers were prepared based on the latest exam pattern. (b) It is a detail of actual receipts and expenditures of the government in a financial year. This document is highly rated by Commerce students and has been viewed 8780 times. 1000Ans: BQ.19 Aerated drinks like Coke cause obesity, the government can help in restricting its consumption by : (Choose the correct alternative). The CBSE Science Challenge - 2020 The National Economy. CBSE Class 12 Economics Consumers Equilibrium and Demand MCQs Set A, CBSE Class 12 Economics Consumers Equilibrium and Demand MCQs Set B, CBSE Class 12 Economics Cost and Revenue MCQs, CBSE Class 12 Economics Determination of Income and Employment MCQs, CBSE Class 12 Economics Exchange Rate and Balance Of Payments MCQs, CBSE Class 12 Economics Forms of Market and Price Determination MCQs, CBSE Class 12 Economics Government Budget and The Economy MCQs, CBSE Class 12 Economics Microeconomics MCQs, CBSE Class 12 Economics Money and Banking MCQs, CBSE Class 12 Economics National Income Accounting Environmental Issues MCQ, CBSE Class 12 Economics National Income and Related Aggregates MCQs, CBSE Class 12 Economics Producer Behavior and Supply MCQs. We have provided Government Budget and the Economy Class 12 Economics MCQs Questions with Answers to help students understand the concept very well. Government Budget and The Economy Important Questions for class 12 economics Concept and Components of Government Budget. Economic Stability: The government budget is used to prevent business fluctuations of inflation and deflation from achieving the objective of economic stability. Also download collection of CBSE books for... Download Class 12 Economics assignments. (a) Budget is a statement of expected annual receipts and expenditures of the government. ... An economy that operates without government intervention d) None of the above View Answer / Hide Answer. This is a descriptive chapter on government budget of Indian economy, wherein its objectives, importance, types, components, budget deficits and its types (Revenue, Fiscal, Primary Deficit) and their implications are studied. Nirmala Sitharaman presents the Union Budget for the fiscal year 2020-21 in the Parliament on 1 February 2020 and here we are with the Important Union Budget Questions 2020. Consider the following statement (s) is/are related to the annual financial statement (Budget) I. High Order... Access latest VBQ, Value Based Questions for Class 12 Economics as per CBSE and NCERT syllabus. Free download latest Useful Resources like important concepts, sure shot questions, guess papers, exam notes and other study material for CBSE Class 12... Free CBSE Class 12 Economics Online Mock Test with important multiple choice questions as per CBSE syllabus, Download Printable Worksheets, test papers for Class 12 Economics with questions answers for all topics and chapters as per CBSE, NCERT, KVS syllabus, Role of Word Limit in Written CBSE Examination, Tricks for Utilization of additional time introduced in CBSE Board Exams, CBSE to declare board exam dates on Dec 31, What to do Post Receipt of Question Paper in the Board Examination, BRICS International Online Mathematics Competition. Jan 11, 2021 - MCQs - Government Budget And The Economy Commerce Notes | EduRev is made by best teachers of Commerce. d) none of the above (a) Balanced(b) deficit(c) Surplus(d) None of theseAns: CQ.18 Given the following data : (i) Total budgeted expenditure          Rs. Government Budget It is a statement of expected/estimated receipts and expenditure of the government over the period of a financial year, i.e. Before initiating the examination there are few key aspects which the... BRICSMATH.COM is an annual International Online Competition in Mathematics, for students of classes I – XII of 07 BRICS countries (Brazil, Russia, India, China and South Africa, Indonesia and Vietnam). Government Budget and the Economy – CBSE Notes for Class 12 Macro Economics. this is your one stop solution. The intend of this article is to share the best suggestions and guidelines to utilize the extra 15 minutes provided for reading the question paper in CBSE Board Examination. Download latest curriculum with important topics, chapter weightage, topic wise... Download HOTs Questions for Class 12 Economics for all important topics in Class 12 Economics based on CBSE NCERT syllabus and latest pattern. (₹in crores) Revenue … (ii) Redistribution of income and wealth (iii) Economic Stability (iv) Management of public enterprises. perfect preparation. Answer: D). (d) Borrowings are treated as capital receipt as they lead to an increase in liability.Ans: CQ.10 The incidence of tax refers to : (a) Level and rate of taxation(b) Who ultimately bears the money burden of the tax. 2. (c) increasing its price. Indian Economy Multiple Choice Questions (MCQs) for State and UPSC Civil Services Examinations. Check the below NCERT MCQ Questions for Class 10 Economics Chapter 4 Globalisation and the Indian Economy with Answers Pdf free download. 27,500 crores. 1. It is allowed in the parliament to cover the deficit left by the last budget. Join everyday 8 to 9 am and 7 to 8 pm. (d) counselling the students through the school.Ans: AQ.20 In the budget, which type of expenditure is expenditure on land ? Objective Question Answers On Currency Inflation. These short objective type questions with answers are very important for Board exams as well as competitive exams like UPSC, SSC etc. Objective Questions on Indian Economy for competitive examinations. Economics Mcqs for test Preparation from Basic to Advance. 4) If the interest rate is higher in the US than in the UK, then A) The dollar is expected to appreciate with respect to the pound. E) A decrease in government purchases. c) the government has to resign. a) Budget is a statement of expected annual receipts and expenditure is correct? These events are most likely to lead to a rise in Fiscal policy can be used to affect both the level of economic activity and the pattern of economic activity Enter pincode to get tutors in your city. Define indirect tax. (c) It offers a detailed description of achievements of the government during the five year plans. Budget Multiple Choice Questions and Answers for competitive exams. Government Budget and Economy class 12 Notes Economics. Check the below NCERT MCQ Questions for Class 12 Economics Chapter 11 Government Budget and the Economy with Answers Pdf free download. These MCQs will also help students find topics that may have been missed while studying. Answers to Multiple Choice Quiz Questions are available at the end of the last question. There chapter wise Practice Questions with complete solutions are available for download in … If you want MCQs - Government Budget And The Economy Commerce Notes | EduRev Macroeconomics - Open Economy - MCQs with answers 1) Which among the following could be said to be an 'Open Economy'? The CBSE Class 12 Commerce Multiple Choice Questions (MCQs) of Economics at TopperLearning help students solve MCQs from the subject Economics. Complete Multiple Choice Quiz Questions Test contains 10 questions. Multiple Choice Quiz Questions, which are covered in this chapter, relate to the topic, Budget and Fiscal Deficits. (a) Interest receipts(b) External grants(c) Dividends and profits(d) DisinvestmentAns: DQ.2 Administrative revenue includes which of the following ? b) It is a detail of actual receipts and expenditures of the government in a financial year, c) It offers a detailed description of achievements of the government during the 5 year plans, d) It indicates  BoP status of the economy, a) Charged at an increasing rate when income of the individual increases, b) Charged at a decreasing rate when income of the individual increases, c) Relatively a low percentage of an individual’s income, d) A fixed percentage of an individual’s income, a) Total expenditure – total receipt other than borrowing, c) Capital expenditure – capital receipts, d) Revenue expenditure + Capital expenditure - revenue receipts, a) Estimated revenue of the government < estimated expenditure of the government, b) Estimated revenue of the government > estimated expenditure of the government, c) Estimated revenue of the government = estimated expenditure of the government. myCBSEguide has just released Chapter Wise Question Answers for class 12 Economics. 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