If borrowings and other liabilities are added to the budget deficit, we get ______________.

1. Revenue deficit.
2. Capital deficit.
3. Primary deficit.
4. Fiscal deficit.

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.

______ items are those items which do not create a liability or do not lead to reduction in assets.

1. Capital.
2. Development.
3. Non-development.
4. Revenue.

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.

The final burden of _______ cannot be shifted to others.

1. direct tax
2. indirect tax
3. Both (a) and (b)
4. Neither (a) nor (b)

One year period from 1 April to 31 March of next year is called a:

1. Monetary year.
2. Fiscal year.
3. Plan year.
4. Tax year.

A Government budget is prepared for a fiscal year running from:

1. 1st January to 31st December.
2. 1st April to 31st December.
3. 1st April to 31st March.
4. 1st January to 30th April.

Which of the following statement is not correct?

1. Dividends on investment made by government is a revenue receipt.
2. Borrowing from public is a capital receipt.
3. Subsidy on diesel oil for cars is a wasteful expenditure by the government.
4. Non-plan expenditure does not contribute to social welfare.

Budget is placed before:

1. Lok Sabha.
2. Rajya Sabha.
3. Both Lok Sabha and Rajya Sabha.
4. Parliament.

If the total receipts are 1000 crore and total expenditure is 1500 crore, how much will be the budgetary deficit?

1. 500 crore.
2. 1500 crore.
3. 1000 crore.
4. 500 crore.