Terminology Online Test With Answers

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Terminology Online Test

Sr. # Questions Answers Choice
1 Which sector contributes the highest share in Gross domestic Saving? Domestic sector Public Sector Government sector Private Corporate sector
2 A significant increase in the government budget deficit is likely to: Reduce injections into the economy Reduce national income Move the economy away from full employment Boost aggregate demand
3 National income is a? Money value of goods and services produced in a country during a year Money value of stocks and shares of a country during a year Money value of capital goods produced by a country during a year Money value of consumer goods produced by a country during a year
4 Gross National Income is always more than net national income because it includes: Foreign income Capital consumption allowance Indirect taxes Direct taxes
5 Fiscal deficit in the budget means: Revenue deficit plus the net borrowings of the government Budgetary deficit plus the net borrowings of the government Capital deficit plus revenue deficit Primary deficit minus capital deficit
6 A budgetary deficit means: Total expenditure is more than total revenue Current expenditure is more than current revenue Capital expenditure is more than capital revenue Total expenditure is more than current revenue
7 Economic development is measured on the basis of Increase in nominal GNP Increase in real GNP Increase in personal incomes Increase in government revenue
8 Economic development The same as economic growth Means improvement in lifestyle Exists when there is equal distribution of income All of the above
9 Open Market Operations occur when the government: Reduces the interest rate Buys and sells bonds and securities Increases taxation Increases the exchange rate
10 Which government income is included in revenue budget? Tax-revenue Non tax-revenue Both of above None of the above
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