Class XII Economics Quiz: Government Budget and the Economy
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Preview questions
1. What is the primary purpose of a government budget?
To increase public debt · To allocate resources and manage the economy · To reduce government spending · To control inflation
2. Which of the following is NOT a component of the government budget?
Revenue receipts · Capital receipts · Expenditure · Private investment
3. What do revenue receipts primarily include?
Loans and borrowings · Taxes and non-tax revenues · Public sector investments · Disinvestment proceeds
4. Which type of expenditure is aimed at creating future assets?
Revenue expenditure · Capital expenditure · Current expenditure · Transfer payments
5. What is a budget deficit?
When total revenue equals total expenditure · When total expenditure exceeds total revenue · When total revenue exceeds total expenditure · When there is zero expenditure
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