EASY
Earn 100

Define the term 'tax'.

Important Questions on Government Budget and the Economy

HARD
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Which of the following is true in the context of allocation function of government budget?
EASY
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_____ refers to the act of selling a part or the whole of shares undertakings held by the government.
MEDIUM
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Government expenditure on purchase of fighter aircrafts is a type of _____ expenditure in the Government Budget.

HARD
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Which of the following are Public Goods?
MEDIUM
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A tax is a _____ tax, if its burden cannot be shifted.
MEDIUM
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The impact and incidence of _____ is on different persons.
HARD
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Which of the following is true in the context of the redistribution function of the government and national income?
EASY
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If estimated government receipts are more than estimated government expenditure, it is said to be _____ Budget.

MEDIUM
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Policy of surplus budget at the time of inflation is a part of _____ objective of government budget.
MEDIUM
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_____ is tax which is imposed on the property and income of persons and paid directly by the consumer to the government.
HARD
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Government expenditure on Mid-Day Meal scheme running in government (state run) schools is a type of _____ expenditure in government budget.
HARD
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Construction of flyover is a _____ expenditure of the government.

EASY
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_____ refer to those receipts which either create a liability or cause a reduction in the assets of the government.
HARD
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Which of the following are true in the context of the stabilisation function of the government through the government budget?
MEDIUM
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Borrowings is a capital receipt because it creates a/an _____.
MEDIUM
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_____ is an example of a non-tax revenue receipt.
EASY
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An annual statement, that shows item wise estimates of receipts and expenditure during of fiscal year is called _____.
MEDIUM
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Government expenditure incurred on defence items is a type of _____ expenditure in the Government Budget.

MEDIUM
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Borrowing from the public increase the _____ of the government.
MEDIUM
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If the Government establishes a new hospital, this expenditure incurred in the Government Budget will be a type of _____ expenditure.