Economics: Multiple choices
49. The financial year in India starts from: A) 1st January B) 31st March C) 1st April D) 1st July 50. Salaries and pensions paid by governments are called: A) Capital expenditure B) Development expenditure C) Revenue expenditure D)Plan expenditure 51. The fiscal deficit excluding the interest liabilities for a year is called as A) Revenue deficit B) Capital deficit C) Budget deficit D) Primary deficit 52. The FRBM Act was passed in: A) 1991 B) 2001 C) 2003 D) 2011 53. The Zero-based budgeting was first adopted in: A) India B) France C) Germany D) USA 54. Who proposed the Zero-based budgeting for the first time: A) David Ricardo B) Alfred marshall C) Adam Smith D) Peter Phyrr 55. Gender budgeting started in India with the Union budget of: A) 1991-92 B) 2001-02 C) 2006-07 D) 2010-11 56. Grants recommended by the Finance Commission are known as: A) Plan grants B) Conditional Grants C) Statutory grants D) Conditional grants 57. Which one of the following is not a method for redeeming public debt? A) Sinking fund B) Capital levy C) Terminal annuities D)Grants in aid 58. The Finance Commission in India is appointed by: A) President B) Prime Minister C) Chief Minister D) Finance Minister 59. The Theory of Maximum Social Advantage was given by: A) Marshal B) Dalton C) Musgrave D) Mill60. Which of the following is a Statutory Body? A) Finance Commission B) Planning Commission C) State Planning Board D) None of these 61. Author of 'General Theory of Employment, Interest and Money': A) Dalton B) Marshal C) Keynes D) Musgrave 62. Functional Finance concept was introduced by: A) Marx and Angels B) Keynes and Lerner C) Dalton and Pigou D) J.S. Mill 63. Formation of- -------is the actual method of debt redemption: A) Sinking fund B) Capital levy C) Conversion D) Repudiation 64. Chairman of the first Finance Commission: A) Chadha B) K.C. Neogi C) Santhanam D) Y.V. Chavan 65. Redemption of public debt means: A) Repayment of debt B) Repayment of FDI C) Additional borrowing D) Deficit financing 66. The Annual Account of both the income and expenditure is called: A) Plan B) Budget C) Manifesto D)Accounts 67. Equals treated equally in taxation leads to:A) Vertical equity B) Real equity C) Horizontal equity D) None 68. Modified Value Added Tax was introduced in India in: A) 1951 B) 1986 C) 1991 D) 1976 69. Agricultural Holding Tax was recommended by: A) Adam Smith B) K.N. Raj C) Chelliah D) Marshall 70. The burden of long-term public debt fall on: A) Present generation B)Past generation C) Future generation D) All 71. The Great Depression occurred during: A) 1919-23 B) 1929-33 C) 1949-53 D) 1901-05 72. Pump Priming is related with: A) Monetary policy B) Income policy C) Price policy D) Fiscal policy 73. Deficit financing may lead to: A) Poverty B) Unemployment C) Inflation D) Deflation 74. The debts which the government promises to pay off at a specified date are called A) Irredeemable debts B) Funded debts C) Redeemable debts D) unfunded debts 75. Short-period debts are called as: A) Unfunded debts B) Funded debts C) Redeemable debts D) None 76. Unfunded debts are also known as A) Funded debts B) Floating debts C) Irredeemable debts D) None 77. Treasury bills issued by the Government are in the nature of: A) Funded debts B) Floating debts C) Irredeemable debts D) None 78. A tax that can be shifted is called: A) Direct tax B) Progressive tax C) Indirect tax D) None
