Economics Topics
Undergraduate level — Economics
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filter_alt Topics
Microeconomics
Macroeconomics
Indian Economy
Bihar Economy
Budget & Fiscal Policy
quiz Questions
Q21
Revenue deficit is
Primary deficit
Fiscal deficit
Revenue deficit
Revenue expenditure minus revenue receipts
Explanation
Revenue deficit shows shortfall in current account of budget.
Q22
The process of reducing fiscal deficit is called
Fiscal deficit
Primary deficit
Revenue deficit
Fiscal consolidation
Explanation
Fiscal consolidation aims at sustainable public finances.
Q23
The budget is presented in Parliament by
Fiscal deficit
Revenue deficit
Finance Minister
Primary deficit
Explanation
Union Budget is presented annually by Finance Minister.
Q24
GST in India was implemented from
Fiscal deficit
Primary deficit
Revenue deficit
1 July 2017
Explanation
Goods and Services Tax started from 1 July 2017.
Q25
GST is a type of
Primary deficit
Fiscal deficit
Revenue deficit
Indirect tax
Explanation
GST subsumed many indirect taxes at union and state levels.
Q26
NITI Aayog was formed in
Fiscal deficit
Primary deficit
2015
Revenue deficit
Explanation
NITI Aayog replaced Planning Commission in 2015.
Q27
The planning body replaced by NITI Aayog was
Planning Commission
Primary deficit
Revenue deficit
Fiscal deficit
Explanation
Planning Commission existed from 1950 to 2014.
Q28
Human Development Index is published by
Revenue deficit
Fiscal deficit
Primary deficit
UNDP
Explanation
UNDP publishes HDI in Human Development Report.
Q29
World Bank headquarters is in
Revenue deficit
Washington D.C.
Primary deficit
Fiscal deficit
Explanation
The World Bank is headquartered in Washington DC.
Q30
IMF headquarters is in
Fiscal deficit
Washington D.C.
Revenue deficit
Primary deficit
Explanation
International Monetary Fund is also headquartered in Washington DC.