This quiz works best with JavaScript enabled. Home > Indian Economy > Planning > Fiscal System Of India – Quiz 10 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Fiscal System Of India Quiz 10 (11 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is a fiscal deficit? [Punjab & Sindh Bank 2011] A) It is a gap between the values of the exports and imports. B) It is a gap between exports and imports minus external borrowings. C) It is a gap between total expenditure and total receipts of the Govt. D) It is a gap between total receipts minus External Borrowing. E) None of the above. Show Answer Correct Answer: C) It is a gap between total expenditure and total receipts of the Govt. 2. Fiscal Policy is concerned with A) Government Spending and taxation. B) Consumer spending and productivity. C) Government spending and the money supply. D) Taxation and inflation. Show Answer Correct Answer: A) Government Spending and taxation. 3. The sum total of incomes received for the services of labour, land or capital in a country is called: A) Gross domestic product. B) National income. C) Gross domestic income. D) Gross national income. Show Answer Correct Answer: B) National income. 4. The 'gilt-edged' market deals in : [UP PCS 2002] A) Worn and torn currency notes. B) Bullion. C) Govt. securities. D) Corporate bonds. Show Answer Correct Answer: B) Bullion. 5. The main reason for low growth rate in India, inspite of high rate of savings and capital formation is: [IAS 1995] A) High birth rate. B) Low level of foreign aid. C) Low capital/output ratio. D) High capital/output ratio. Show Answer Correct Answer: C) Low capital/output ratio. 6. CENVAT is associated with: A) Rate of indirect tax. B) Rate of income tax. C) Rate of direct tax. D) None of the above. Show Answer Correct Answer: A) Rate of indirect tax. 7. Deficit financing is spending: A) By getting foreign aid. B) Less than what is needed. C) In excess of revenue. D) By borrowing from abroad. Show Answer Correct Answer: C) In excess of revenue. 8. In economic terms, which of the following factors determine the 'Individual's demand' of a product/commodity? [RBI Grade B Officer 2011] A. Price of a commodity B. Income of the individual C. Utility and quality of a commodity A) Only A. B) Only B. C) Only C. D) Only A & C. E) All A, B, & C. Show Answer Correct Answer: E) All A, B, & C. 9. What happens when CRR is increased? A) It decreases money supply. B) It increases demand of money. C) It decreases inflation. D) All of the above. Show Answer Correct Answer: D) All of the above. 10. In institution that accepts deposits and makes loans is defined as A) A bank. B) Insurance. C) Gambling. D) A loan shark. Show Answer Correct Answer: A) A bank. 11. Among Indian Economists who had done pioneering work on National Income ? A) P. N. Dhar. B) Jagdish Bhagwati. C) V. K. R.V. Rao. D) Prof. Shenoi. Show Answer Correct Answer: C) V. K. R.V. Rao. ← PreviousRelated QuizzesIndian Economy QuizzesFiscal System Of India Quiz 1Fiscal System Of India Quiz 2Fiscal System Of India Quiz 3Fiscal System Of India Quiz 4Fiscal System Of India Quiz 5Fiscal System Of India Quiz 6Fiscal System Of India Quiz 7Fiscal System Of India Quiz 8Fiscal System Of India Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books