Tag: government budget and economy

Quizzes (6) Questions (228)

Questions Related to government budget and economy

Multiple choice economics government budget and economy trade deficits, savings and investment public finance and budget public finance, taxes and budget

Small Enterprise in Manufacturing Sector means an enterprise having original investment in Plant and Machinery not exceeding _______.

  1. Rs.15 Lakh

  2. Rs.5 crore

  3. Rs.10 crore

  4. Rs.1 crore
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Under the MSME Development Act, a small enterprise in the manufacturing sector is defined by an investment in plant and machinery between Rs. 25 lakh and Rs. 5 crore.

Multiple choice economics government budget and economy trade deficits, savings and investment public finance and budget public finance, taxes and budget

Medium Enterprise in Manufacturing Sector means an enterprise having original investment in Plant and Machinery not exceeding ______.

  1. Rs. 10 crore

  2. Rs. 5 crore

  3. Rs. 100 crore

  4. Rs. 1 crore
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Under the MSME Development Act, a medium enterprise in the manufacturing sector is defined by an investment in plant and machinery between Rs. 5 crore and Rs. 10 crore.

Multiple choice economics government budget and economy trade deficits, savings and investment public finance and budget public finance, taxes and budget

What are official reserve transaction balance?

  1. International reserves owned by Government or other Government agencies.

  2. International reserves owned by star trading houses

  3. GDR of blue chip companies

  4. Balance held in Swiss Bank A/c
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Official reserve transaction balance refers to the international reserves held by a government or its central bank to manage exchange rates and balance of payments. Other options like trading houses or blue chip companies do not hold official government reserves.

Multiple choice economics government budget and economy trade deficits, savings and investment public finance and budget public finance, taxes and budget

Micro Enterprise in Manufacturing Sector means an enterprise having original investment in Plant and Machinery not exceeding _______.

  1. Rs.25 Lakh

  2. Rs. 5 crore

  3. Rs. 10 crore

  4. Rs. 1 crore
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

According to the MSME Development Act in India, a micro enterprise in the manufacturing sector is defined by an investment in plant and machinery not exceeding Rs. 25 Lakh. This was the historical threshold before recent revisions.

Multiple choice economics government budget and economy trade deficits, savings and investment public finance and budget public finance, taxes and budget

Full convertibility of Rupee on Trade A/c was declared in _______.

  1. 1992-93

  2. 1989-90

  3. 1999-2000

  4. 1993-94
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Full convertibility of the Rupee on the trade account (current account) was introduced in India in the 1993-94 budget, following the economic reforms initiated in 1991.

Multiple choice business economics and quantitative methods public economics components of budget and budgetary procedure government budget and taxation government budget and economy

Which among the following is a type of government budget?

  1. Balanced budget

  2. Unbalanced budget

  3. Family budget

  4. Both A & B
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

There are two types of budget in general. 

1. Balanced Budget: In this type of budget, government expenditure is equal to government revenue. 

2. Unbalanced budget: In this type of budget, government expenditure is not equal to government revenue. 

 (i) Surplus Budget: In this type of budget, government revenue is greater than government expenditure due to which there is a surplus in the budget. 

 (ii) Deficit budget: In this type of budget, government expenditure is greater than government revenue due to which there is a deficit in the budget. 

Multiple choice business economics and quantitative methods public economics components of budget and budgetary procedure government budget and taxation government budget and economy

The budget where the government revenue is equal to the government expenditure is termed as ___________.

  1. balanced budget

  2. unbalanced budget

  3. constant budget

  4. none of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Budget is an statement of the estimates of the government receipts and government expenditure during the period of the financial year. Balanced Budget is the type of budget where government expenditure is equal to government revenue.