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Plus Two Economics Chapter 11 – Online Practice Exam in English

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Chapter 11

The Government Functions and Scope.

Chapter 11 The Government Functions and Scope

Multi-choice Practice Exam

Question

1) The principle of exclusion is applicable in case of 

Answers

Public goods

Private goods

Both of above

None of these

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Question

2) If MPC is 0.8, then tax multiplier is

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1

8

5

80

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Question

3) In the given equation C = 20 + .8Y,  income is 100. Then consumption will be 

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20

.8

20.8

100

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Question

4) Revenue receipts 

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Reduce assets

Increase assets

Neither increase nor reduce

None of these

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Question

5) The expenditures which neither create assets nor reduces liabilities are called

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Revenue expenditure

Capital expenditure

Revenue receipts

None of these

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Question

6) Fiscal deficit reduced by interest payment is 

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Primary deficit

Total deficit

Monetized deficit

Trade deficit

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Question

7) Which of the following are the functions of government ?

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Allocation

Distribution

Stabilization

All of the above

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Question

8) Goods in which  the consumption should be encouraged are called 

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Public good

Private good

Club good

Merits good

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Question

9) Which of the following is an indirect tax ?

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Excise duty

Sales tax

Customs duty

All of these

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Question

10) Balnced budget multiplier is 

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One

Less than one

More than one

Zero

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Question

11) Which of the following is the AD in a closed economy with government ?

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C + I + G + X

C + G + NX

C + I + G – X

C + I + G

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Question

12) Excess of total expenditure over total income excluding borrowing is

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Revenue deficit

Fiscal deficit

Primary deficit

Monetized deficit

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Question

13) Select the odd one

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Surplus budget

Balanced budget

Supplementary budget

Deficit budget

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Question

14) Autonomous expenditure, A = 100 and MPC is 0.75 , equilibrium income is

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4000

400

300

133.3

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Question

15) Which of the following is not a major item of revenue expenditure ?

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Defence service 

Acqusition of land

Interest payment

Subsidies

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Question

16) Select the odd one

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Income tax

Sales tax

Fees

Customs duty

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Question

17) The borrowing of the government to finance deficit in budget leads to

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Revenue

Public debt

Taxation

None of these

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Question

18) Government finances deficit in budget by 

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Taxation

Borrowings

Printing currency 

All of the above

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Question

19) The policy of the government regarding public expenditure, taxation, borrowing and revenue are called

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Fiscal policy 

Budget 

Capital receipt

None of these

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Question

20) The deliberate action in fiscal policy taken by the government to stablize the economy is called 

Answers

Fiscal policy

Discretionary Fiscal policy

Automatic stablizer

Budget

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