________ taxes do not depend on the level of income.

1. Direct
2. Indirect
3. Progressive
4. Lumpsum

High___________ gives a warning to the government either to cut its expenditure or increase its tax receipts.

1. budget
2. revenue deficit
3. primary deficit
4. fiscal deficit

Budget is a:

1. Financial statement.
2. Monetary statement.
3. Political statement.
4. All of them.

Loans granted to State Governments is an example of ________.

1. revenue receipts.
2. capital receipts.
3. revenue expenditure.
4. capital expenditure.

Which objective of government budget increases equality in the society?

1. Re-distribution of income and wealth.
2. Economic stability.
3. Allocation of resources.
4. Economic growth.

Which part of government budget shows the current receipts?

1. Capital budget.
2. Revenue budget, as they are recurring in nature.
3. Both (a) and (b).
4. Neither (a) nor (b).

When the government tries to meet the gap of public expenditure and public revenue through borrowing from the banking system, it is called _______.

1. Deficit financing.
2. Debt financing.
3. Credit financing.
4. None of them.

Primary deficit in a government budget is: (Choose the correct alternative)

1. Revenue expenditure - Revenue receipts.
2. Total expenditure - Total receipts.
3. Revenue deficit - Interest payments.
4. Fiscal deficit - Interest payments.

Choose the correct alternative.
According to the theory of Keynesian Economics, the value of Average Propensity to Consume can never be ________.

1. Zero.
2. Unity.
3. More than one.
4. Less than one.

Capital receipts may come from:

1. Market borrowings.
2. Provident funds.
3. Recoveries of loans.
4. All of them.