Economics MCQ Questions and Answers

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Q121
Which is the characteristic of a tax ?
  • A Tax is a payment for government service
  • B Tax is a compulsory payment
  • C Tax is voluntary
  • D To get benefit for a tax is compulsory
Answer: Option B
Q122
Which government income is included in revenue budget ?
  • A Tax-revenue
  • B Non-tax-revenue
  • C Both of above
  • D None of the above
Answer: Option C
Q123
Which is included in Capital budget ?
  • A Income received from public borrowings
  • B Income received from tax-sources
  • C Income received from non-tax sources
  • D All of the above
Answer: Option A
Q124
Which is not included in the principles of public expenditure as developed by Findley Shirras ?
  • A Principle of Economy
  • B Principle of Sanction
  • C Principle of Elasticity
  • D Principle of Surplus
Answer: Option C
Q125
Which of the following is the largest significant factor of revenue expenditure of Central Government ?
  • A Defence Expenditure
  • B Subsidy
  • C Interest Payment
  • D Salary
Answer: Option C
Q126
In comparison to revenue deficit; the size of fiscal deficit is always-
  • A Higher
  • B Smaller
  • C Similar
  • D Uncertain
Answer: Option A
Q127
What is CENVAT ?
  • A Direct Tax
  • B Indirect Tax
  • C Development Planning
  • D None of the above
Answer: Option B
Q128
What is the nature of income tax in India ?
  • A Proportional
  • B Progressive
  • C Regressive
  • D None of the above
Answer: Option B
Q129
Which factor is not related to economic development ?
  • A Continuous process
  • B Increase in real national income
  • C Long run and continuous increase
  • D Compulsory change in economic welfare
Answer: Option D
Q130
Process of economic development means-
  • A Economic change
  • B Social change
  • C Ethical, institutional and cultural change
  • D All of the above
Answer: Option D

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