Economics Macro

E(OlOICs CLASS
UNIT 1 NATIONAL INCOME
SHORT ANSWER TYPE QUESTIONS (60-70 WORDS)

be treated while
Q.1 Giving valid reasons, explain how the following would
estimating National Income: (cbse 2022)
(a) Payment of Indirect taxes by a firm.

(b) Purchase of goods by foreign tourist.
estimating National Income
Q.2 State any two precautions twO adopted while
by Income method. (CBSE 2022)
Q.3 Distinguish between Value of output and Value Addition.
suitable example.
Q.4 Discuss briefly the problem of double counting using a
positive externalities and
Q.5 Using a suitable example, distinguish between
negative externalities. (CBSE 2022)
(GDP) for a
Q.6 Estimate the value of Nominal Gross Domestic Product
(GDP) and
hypotheticaleconomy. The value of Real Gross Domestic Product
respectively. (CBSE
price Index are given as Rs. 500 crores and Rs. 125 crores
2022)
will not be included in
Q.7Giving valid reasons explain, which of the following
the estimation of National Income of India- (2022)
Bombay Stock
(i) Purchase of shares of SethiLtd. by an investor in the
Exchange.;
the localworkers.
(ii) Salaries paid by Indian Embassy situated at Japan, to
(ii) Depreciation on capital assets charged by firms.
and flow variables.
Q.8Giving valid reason, classify the following intostock
(2022)
(i) Population of India as on 31.03.2021
year 2020-21.
(ii) Domestic Income of Indian economy during the fiscal
(GDP), is Rs. 300 crore
Q.9 In the economy, if the Real Gross Domestic Product
Domest Product.
and Price Index (with base=100), calculate the Gross
Income. (2022)
Q.10 Distinguish between Domestic Income and Naitonal
Q.11 Giving valid reason, explain how the following would be treated while
estimating Domestic Income: (2022)
()Payment made by Japanese tourist for goodspurchased in India.
(ii) Broker's commission on the sale of second-hand goods.
Q.12 "Gross domestic product (GDP)as an indicatorof welfare losses its
significance in the distribution of Income turns unequal. "Justify the given
statement with valid reason.
Q.13 (a) Domestic/ household services performed by a woman may not be

considered as an economic activity.' Defend or refute the given statement with
valid reason.
(b) 'Compensation of the victims of cyclone is an example of welfare measure

taken by the govt.'state with valid reason, should it be included/ not included
in the estimation of National Income of India.
Q. Suppose the Gross DomesticProduct (GDP)of Nation Xwas Rs. 2000crores

in 2018-19, whereas the Gross Domestic Product of Nation Yin the same year
was Rs. 120000 crores. If the Gross Domestic Product of Nation rises to Rs.
4000 crores in 2019-20 and the Gross Domestic Product of Nation Yrises to Rs.
200000 crores in 2019-20. Compare the rate of change of GDP of Nation Xand
Y,taking 2018-19 as bases year.
Q. "Increase in domestic income always leads to an increase in national
income." Do youagree with the given statement? Support your answer with
the valid reason.
a. Distinguish between consumer goods and capital goods. Which of these are
final goods?
Q. Distinguish between Real Gross Domestic Product and Nominal Gross
Domestic Product, using a suitable numerical example.
LONG ANSWER TYPE QUESTIONS

01
A. Discuss briefly the concept of externalities, with suitable example.

Abroad'. Elaborate the
B. "Export are not a part of Net Factor Income from
reason behind the given statement.
UNIT II(MONEY AND BANKING)
SHORT ANSWER TYPE QUESTIONS
Q.1 Money multiplier plays a vital role in determining the credit creation
power of the banking system. Elaborate the statementwith a suitable
numerical example. 2021
Q.2Define Money supply and explain the components (2014, 2017)
Q.3 Explainthe credit creationrole of Commercial Banks with the help of
numericalexample. (2013, 17, 20)
Q.4 Explain the issue of currency function of central bank. (2004, 2008, 2010,
2016)
Q.5 Explain (Banker's bank' function of central bank. (2012. 14, 17)
Q.6 Explain "Government's Banker" function of the central bank. (2012, 13, 14)
Q.7 Explain the lender of the last resort function of the central bank. (2010, 12,
13, 14)
Q.8 How does the Central Bank control credit creation by commercial banks
through open market operations? Explain (2013)
Q.9Explain how "Repo Rate" can be helpful in controlling credit creation.
(2016)
Q.10 If in an economy Bank rate is increased, how will it affect the demand for
credit? Explain.(2022)
UNIT-II| INCOME AND EMPLOYMENT
SHORT ANSWER TYPE QUESTIONS
Q.1 On the basis of following schedule, answer the given questions:
0 50 100 150 200
Income (in
Rs. crores)
30 60
Savings (in -20 -10
Rs. Crores)
(a) Calculate Marginal Propensity to Save (MPS) at 150 crores level of
income.
(b) What is the value of Autonomous Consumption? (2022)
Q.2 In an economy 75 per cent of the increase in income is spent on consumption.
Investment increased by Rs. 1000 crores.Calculate the total increase in income based on
giveninformation. (2022)
Q.3 "Excess demand creates greater opportunities of employment inthe economy."
Defend or refute the given statement with valid explanation. (2022)
Q.4 State and discussany two monetary tools to control inflationary pressures in the
economy. (2022)
Q.5 State and discuss any one component of Aggregate Demand in a two-sector
economy. (2022)
Q.6"In a hypothetical economy, planned savings fallshort of planned investments,
leading to fall in employment and income." Do youagree with the given statemernt?
Support your answerwith avalid explanation. (2022)
Q.7 Define Inflationary gap. State, how the govt can control the situation of inflationary
gap, using the taxation policy. (2022)
Q.8 Justify the following statement with valid argument
At higher levels of income people generally have lower Marginal Propensity to
Consume (MPC).
Q.9 If planned savings exceed planned investments in an economy, state its likely
impact on output and employment. (2022)
Q.10 Calculate equilibrium level of income for a hypothetical economy, for which it
is given that:
() Autonomous Investments (l0) =2,500 crores, and
0.8Y
()Consumption Function; C= 1000+
where C= Consumption and Y=Income (2022)
economy, for
Q,11 Calculate, change in Income (AY) for a hypothetical
which it is given that:
(MPC) = 0.75, and
()Marginal Propensity to Consume
20,000 crores. (2022)
()Change in Investments (Al) =
investment multiplier(K), assuming
Q,12 Disscuss briefly the working process ofand Marginal Propensity to Consume
crore
that Change in Investment is 4,000
(MPC)is 0.5.(2022)
a13Explain the concept of deficient
demand /How can government
deficient demand ?(2022)spending
policybe helpful in correcting the situation of
a44 "Inan economy, the autonomous
consumption is 100 and
propensity to Consume (MPC) is 0.6. If the equilibrium of Income Marginal
is 2,000, then
the autonomous investment is 300 "
Justify the statement with valid calculation.(2022)
Q,15 An Economy is in equilibrium, calculate the Marginal Propensity to Save
(MPS) fromthe following:
(i) National Income (Y) =Z4,400
(i) Autonomous Consumption (C)=1,000
(ii) Investment Expenditure (|) =70 (2022)
Q,16 Consumption function curve of an involuntary unemployed worker starts
from some positive level of Y-axis at zero level of income'.
Justify the given statement. (2022)
income
Q,17 "The Government has raised the exemption limit for the payment of
tax from 2lakh to 2.5 lakh,
economy, what will be the
If the situation of deficient demand is privailing in the
impact od this action taken by the Government ? (2022)
are
Q.18Investment multiplier and Marginal Propensity to Consume (MPC) (2022)
directlyrelated to each other'. Explain with the help of numerical example.
o 19 State the meaning of 'Deficient Demand" suggest any two monetary policy
tools used to reduce deficient demand. (2021)
Marginal
Q.20 In an economy , Investment increases by ? 1,000crore and
Propensity to Save is 0.25. Calculate:
(i) Investment miltiplier (K)
(ii) Total increase in income (Y) (2021)
Q,21 Define:
(i) Autonomous Consumption Expenditure.
() Average Propensity to Consume. (2021)
Q,22 Distinguish between marginal propensity to consume and average
propensity to consume.Give a numerical example. (2019)
BALANCE OF PAYMENT
1. Balance of Payment is a concept. 1
a) Stock b) Flow
c) Both a & b d) Neither a nor b
2. Autonomous transactions take place on : 1
a) Current Account b) Capital Account
d) Both a & b d) Neither a nor b
3. transactions are under taken to cover the deficit or surplus in
autonomous transactions. 1
a) Current Account b) Capital Account
b) Accommodating d) None of these
4. Balance of payment ‘deficit’ is the excess of : 1
a) Current account payments over current account receipts
b) Capital account payments over current account receipts
c) Autonomous payments over autonomous receipts
d) Accommodating payments over accommodating receipts
5. Which of the following statement is correct? 1
a) Import of machinery is recorded in capital account.
b) Autonomous transactions take place in capital account only.
c) Accommodating items are also known as below the line items.
d) Balance of trade records export and imports of invisible items.
6. Read the following statement : Assertion (A) and Reason (R), choose one of the
correct alternatives given below: 1
Assertion : Current account transactions bring the change in the current level of
country’s income.
Reason : Current account includes all items expressing changes in stock.
a) Both assertion and reason are true and reason is the correct explanation of
assertion.
b) Both assertion and reason are true and reason is not the correct
explanation of assertion.
c) Assertion is true but reason is false.
d) Assertion is false but reason is true.
7. Read the following statement : Assertion (A) and Reason (R), choose one of the
correct alternatives given below: 1
Assertion: Trade of invisible items between two nations is a part of capital
account of Balance of payment.
Reason: Transactions that affect the asset-liability status of a country in relation
to the rest of the world are known as capital account transaction.
e) Both assertion and reason are true and reason is the correct
f) Both assertion and reason are true and reason is not the correct
g) Assertion is true but reason is false.
h) Assertion is false but reason is true.
8. Classify whether the following transaction will be recorded in current
account or capital account of credit side or debit side? 3
a) Import of computer spare parts from Germany.
b) Repayment of loans by Indian Government taken from Japan.
c) Purchase of land in England.
9. “Trade Deficit must exist if a country is facing a situation of current account
Deficit.” Justify the given statement. 4
10. Answer the following questions. 6
a) What will be the effect of the following on the Balance of payment:
i) ‘Make in India’ programme.
ii) Import of Pulses.
b) What is meant by ‘Official reserve transaction’? State any two
importances in Balance of Payment.
10. Difference between Balance of Payment and Balance of Trade
11. Distinguish between current account and capital account of BOP account
12. Distinguish between autonomous and accommodating transactions of BOP account

GOVERNMENT BUDGET AND THE ECONOMY (6 MARKS)
Multiple Choice Questions

1. An annual statement of the estimated receipts and expenditure of
the governmentover the fiscal year is known as:
(a) Income
(b) Budget
(c) Account
(d) Expenditure
2. The duration of fiscal year is:
(a) 1st Jan.- 31st Dec.
(b) 1st Jan.- 31st March.
(c) 1stApril.- 31st Dec.
(d) 1st April.- 31st March
3. Budget is prepared for-

(a) One Year
(b) Two years
(c) Three Years
(d) Five Years
4. Who presents budget in the parliament?
(a) President
(b) Prime Minister
(c) Finance Minister
(d) Home Minister
5. Which of these is not an objective of govt. budget?

(a) Reallocation of resources
(b) Redistribution of income& wealth
(c) Poverty removal
(d) Economic Stability
6. Which of these is an objective of govt. budget?
(a) Economic Stability
(b) Reallocation of resources
(c) Management of PSUs
(d) All of these
7. The main aim of managing public enterprises is:
(a) Earning profit
(b) Expanding public sector
(c) Control over private sector
(d) Promotion of public welfare
8. Which of these is a component of govt. budget?
(a) Budget receipts
(b) Budget expenditure
(c) Both a & b
(d) None
9. How many types of revenue receipt are there?

(a) 2
(b) 3
(c) 4
(d) 5
10. Which of the following statement is true about revenue receipts?
(a) These create liability
(b) These reduce assets
(c) These neither create liability nor reduce assets
(d) These create assets
11. Identify revenue receipt:
(a) Income tax
(b) Fee
(c) Fine
(d) Penalty
12. An example of tax revenue is:
(a) Income tax
(b) GST
(c) Corporate tax
(d) All of these
13. Union budget is the budget of:

(a) Central govt.
(b) State govt.
(c) Local govt.
(d) Election Commission
14. Which of the following statements is true?

(a) Loans from IMF is a revenue receipt
(b) Higher revenue deficit necessarily leads to higher fiscal deficit
(c) Borrowing by a govt. represents a situation of fiscal deficit.
(d) Revenue deficit is the excess of capital receipts over the revenue receipts.
15. Borrowings are equivalent to:
(a) Revenue deficit
(b) Primary deficit
(c) Fiscal deficit
(d) None of these
16. Capital receipts include:
(a) Tax revenue
(b) Non-tax revenue
(c) Grants from World bank
(d) Borrowings
17. Borrowing is a capital receipt because:
(a) It creates a liability
(b) It creates an asset
(c) It reduces a liability
(d) All of the above
18. Escheat is an example of :
(a) Capital receipts
(b) Revenue receipts
(c) Capital expenditure
(d) Revenue expenditure
19. Interest income is a part of :
(a) Non-tax revenue
(b) Revenue receipts
(c) Both a and b
(d) None of these.
20. Budget expenditure includes:
(a) Capital expenditure
(b) Revenue expenditure
(c) Both a and b
(d) None of these
21. Which of these is an example of revenue expenditure:
(a) Payment of salaries
(b) Pension
(c) Interest payment
(d) All of these
22. The grants to states by the union govt. is kept under
(a) Revenue receipts
(b) Revenue expenditure
(c) Capital receipts
(d) Capital expenditure
23. Identify the revenue expenditure
(a) Construction of metro
(b) Repayment of loan
(c) Purchase of machinery
(d) Expenditure on defense services
24. Capital expenditure is that estimated expenditure of the govt. by which:
(a) Assets are increased
(b) Liability is decreased
(c) Both a and b
(d) Assets and liabilities do not change
25. The incidence of tax refers to:
(a) Level and rate of taxation
(b) Who ultimately bears the money burden of the tax
(c) Growth of taxation
(d) Way in which a tax is collected
26. Disinvestment by govt. means:
(a) Selling of its fixed capital assets
(b) Selling of shares of public enterprises held by it
(c) Selling of its buildings
(d) All of the above.
27. reduces assets of the government.
(a) Recovery of loan
(b) Disinvestment
(c) Both a and b
(d) None of these
28. The difference between fiscal deficit and interest payment is called
(a) Revenue deficit
(b) Primary deficit
(c) Budget deficit
(d) Capital deficit
29. If primary deficit is rupees 6900 and interest payment is rupees 600,
then fiscaldeficit is:
(a) Rupees 6300
(b) Rupees 7500
(c) Rupees 7400
(d) Rupees 7300
30. Budget deficit means:
(a) Total expenditure – total receipts
(b) Capital expenditure – capital receipts
(c) Total expenditure – C receipts
(d) Total expenditure – revenue receipts
31. Borrowing in govt. budget is:
(a) Revenue deficit
(b) Fiscal deficit
(c) Primary deficit
(d) Deficit in taxes
32. Primary deficit in a govt. budget is:
(a) Revenue expenditure – revenue receipts
(b) Total expenditure – total receipts
(c) Revenue deficit – interest payments
(d) Fiscal deficit – interest payments
(e)
33. If the total receipts are Rs.3000 crores and total expenditure is Rs. 4200
crores thenbudgetray deficit will be:
(a) Rs.1200 Crores
(b) Rs. 3000 Crores
(c) Rs. 7200 Crores
(d) Rs. 500 Crores
34. A government budget shows a primary deficit of Rs. 4400 crores.
The interestpayment liability is Rs. 400 crores. How much is the
fiscal deficit?
(a) Rs. 4000 Crores
(b) Rs. 4400 Crores
(c) Rs. 4800 Crores
(d) Rs. 5000 Crores
35. Zero primay deficit means:

(a) Fiscal deficit= Primay deficit
(b) Fiscal deficit= Interest payment
(c) Fiscal deficit> Interest payment
(d) Fiscal deficit< Interest payment
36. Which of the following budget is suitable for developing economies?

(a) Deficit budget
(b) Balanced budget
(c) Surplus budget
(d) None of these
37. Which one of the following is a pair of direct tax
(a) Excise duty & Wealth Tax
(b) Service Tax & Income Tax
(c) Excise duty & Service Tax
(d) Wealth Tax & IncomeTax
38. Which budgetary instruments are used by the govt. to reduce
inequalities in incomeand wealth?
(a) Tax & subsidy
(b) Tax & fine
(c) Fee & fine
(d) None of these
39. “Policies of surplus budget during inflation” is a part of which
objective of govt.budget?
(a) Economic growth
(b) Economic stability
(c) Reducing regional disparities
(d) Reallocation of resources
40. Which of the following statements is false
(a) GST is an indirect tax
(b) Repayment of loan is a capital expenditure
(c) Capital expenditure reduces capital stock
(d) Capital expenditure adds to capital stock
Read the following statements: Assertion (A) and Reason (R).
Choose one ofthe correct alternatives given below: (Q. No. 41- 50)
41. Assertion (A): Income tax is a direct tax.
Reason (R): Impact and incidence of direct tax is on the same individual.
(a) Both (A) and (R) are true and (R) is the correct explanation of (A).
(b) Both (A) and (R) are true and (R) is not the correct explanation of (A).
(c) (A) is true but (R) is false
(d)(A) is false but (R) is true.
42. Assertion (A): Govt. earns profit through PSUs.
Reason (R): Non – tax revenue refers to receipts of the govt. from all sources other than
those of tax receipts
43. Assertion (A):A large Fiscal deficit leads to burden on future generation.
Reason (R): Interest payments and repayment of loans taken today would have to be
paid in future.
44. Assertion (A): Receipt of fees by the govt. is a revenue receipt.
Reason (R):Revenue receipts reduce assets of the govt.
45. Assertion (A): An increase in the govt. spending increases the tax burden oncitizens.
Reason (R):Taxes finance govt. spending.
46. Assertion (A): Recovery of loans is an example of capital receipts.
Reason (R): Capital receipts are the source of income of the govt.
47. Assertion (A):The govt. affects the personal disposable income of households by
making transfers and collective taxes.
Reason (R): ): The govt. can reduce inequalities in income and wealth
through itsbudgetary policy.
48. Assertion (A):Old age pension is an example of capital expenditure.
Reason (R): Capital expenditure either creates assets or reduces
liability of the govt.
49. Assertion (A): Tax payments to the govt. do not provide any direct
benefit to the tax payer.
Reason (R): Govt. spends tax receipts for common benefit of the society. Tax
payer cannot expect that the tax amount will be used for his direct
benefit.
50. Assertion (A):A low primary deficit forces the govt. to borrow.
Reason (R):Primary deficit is the difference between fiscal deficit and interest payments.
Read the report(Case Study-1) given below and answer the questions follow(Q.No. 51-55):
“In Financial year 2021-22, the government’s capital expenditure is

estimated at Rs. 5.54 lakh crore (annual increase of 29%) and the
revenue expenditure is estimated to be Rs. 29.29 lakh crore(annual
increase of 12%). So, what are capitaland revenue expenditure?
Expenses which effect a change to the assets of the government like
recovery of loans are called capital expenditure. All other expenses
like payment of salaries are termed as revenue expenditure. The
central govt. is targeting expenditure of Rs.5.54 lakh crore which
means more economic activities which means more jobs can get
created which can fuel consumption anddemand thereby helping the
economy grow.”
51. What is the budget expenditure of the govt. during 2021-22?
(a) Rs. 5.54 lakh crore
(b) Rs. 34.83 lakh crore
(c) Rs. 29.29 lakh crore
(d) Rs. 23.75 lakh crore
52. Which of these effects assets of the govt.?
(a) Revenue Expenditure
(b) Capital Expenditure
(c) Both a& b
(d) None of these
53. More capital expenditure means:
(a) More jobs
(b) More consumption demand
(c) More growth
(d) All of these
54. Expenditure is recurring in nature.
(a) Revenue
(b) Capital
(c) Budget
(d) Non- planned
55. Which of these an asset of the government?
(a) Lenders
(b) Borrowers
(c) Pensioners
(d) All of these
Read the report (Case Study-2) given below and answer the questions (Q.No.56-60) follow:
“Mr. Sunil Kumar Sinha, Principal economist at India Rating and research-
which expects financial year 2020-21 fiscal deficit at 7% of GDP. The
expenditure patternsuggests that expansion in fiscal deficit is not due to
increased expenditure which has been muted so far. The higher fiscal
deficit is primarily originating from lower receipts.Corporation tax
collections were Rs. 1.03 lakh crore lower year-on-year and income tax
collections were down Rs. 33 crore. Non-tax revenue has also been
lower so far at just 32% budget amount.”
56. The duration of financial year 2020-21 was:(a) 1st Jan 2020.- 31st Dec.2020
(b) 1st Jan.2020- 31st March.2021
(c) 1st April.2020- 31st Dec.2020
(d) 1st April.2020- 31st March 2021
57. Higher fiscal deficit means:
(a) Higher GDP
(b) Higher lending
(c) Higher borrowings
(d) Lower borrowings
58. Corporation tax is an example of:
(a) Revenue receipt
(b) Capital receipt
(c) Revenue expenditure
(d) Capital expenditure
59. Which of these an example of Non-tax revenue?
(a) Income tax
(b) Wealth tax
(c) Property tax
(d) Escheat
60. Budget deficit means:
(a) Budget Expenditure = Budget receipts
(b) Budget Expenditure < Budget receipts
(c) Budget Expenditure > Budget receipts
(d) Budget Expenditure> = Budget receipts
61. The government budget has a revenue deficit. This gets financed by: (1)
A. Borrowing
B. Disinvestment
C. Tax revenue
D. Indirect taxes
Codes:
a) A and D
b) C and D
c) A and B
d) C and D
2 Which of the following statement is not true for fiscal deficit? (1)
A fiscal deficit:
a) represents the borrowing of the government.
b) is the difference between total expenditure and total receipts of the government
c) is the difference between total expenditure and total receipts other than borrowing
d) increases the future liability of the government
3 Which one of these is a revenue expenditure:
a. Purchase of shares b. Loans advanced
c. Subsidies d. Expenditure on acquisition of land
4 Out of the following, which one is the example of capital expenditure-
(A) Purchase of machinery (B) Payment of Borrowing
(C) Interest payment of Loan (D) All of these
1. If budget deficit is Rs.1000 crores and borrowings are equal to 800 crores then fiscal deficit
is equal to:-
(a)1000 crores (b)800 crores (c)2000 crores (d) none of the
6 Disinvestment is
a) Capital expenditure
b) Revenue expenditure
c) Capital receipt
d) Revenue receipt
7 Primary deficit in a government budget refers to:
a. Borrowing requirements
b. Interest payments requirements
c. a less b
d. a+b
8 The government under “UJJWALA Yojana” is providing free LPG connections to the
families ‘below the poverty line’. What objective the government is trying to fulfill through
the government budget and how? Explain.
9. Government expenditure on mid-day meal scheme running in government (state-
run) schools is a expenditure in government budget.
(a) normal (b) capital (c) revenue (d) Any of these
OR
Suppose, following data is presented, for an imaginary economy: Particulars (`in crore)
Fiscal deficit 12,000
Revenue deficit 9,000
Primary deficit 5,000
Revenue receipts 6,000
Non-debt capital receipts 10,000
On the basis of given data, the value of capital expenditure will be:
(a) `15,000 crore (b) `25,000 crore (c) `21,000 crore (d) `13,000 crore
10. What are the functions of Govt. budget?

11. Categories the following into revenue receipts and capital receipts. Give reason.
Income Tax, Recovery of loans, Profit from public enterprises, borrowing from RBI.
12. Categories the following into revenue expenditure and capital expenditure. Give reason.
Purchase of building, Subsidy
13. Explain the implications of Revenue deficit.
14. What are the implications of Fiscal deficit? FD is equal to the total borrowing by the govt.
15. Differentiate between Direct Tax and Indirect tax.
16. Explain ‘primary deficit’ in a government budget. What does it indicate?
17. Explain the concept of fiscal deficit in a government budget. What does it indicate?
61.
(a)
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E(OlOICs CLASS

UNIT 1 NATIONAL INCOME

SHORT ANSWER TYPE QUESTIONS (60-70 WORDS)

(a) Payment of Indirect taxes by a firm.

Q.13 (a) Domestic/ household services performed by a woman may not be

(b) 'Compensation of the victims of cyclone is an example of welfare measure

Q. Suppose the Gross DomesticProduct (GDP)of Nation Xwas Rs. 2000crores

LONG ANSWER TYPE QUESTIONS

A. Discuss briefly the concept of externalities, with suitable example.

10. Difference between Balance of Payment and Balance of Trade

12. Distinguish between autonomous and accommodating transactions of BOP account

Multiple Choice Questions

3. Budget is prepared for-

5. Which of these is not an objective of govt. budget?

9. How many types of revenue receipt are there?

13. Union budget is the budget of:

14. Which of the following statements is true?

35. Zero primay deficit means:

36. Which of the following budget is suitable for developing economies?

“In Financial year 2021-22, the government’s capital expenditure is

10. What are the functions of Govt. budget?

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