Economics Test 10

Total Questions: 15

1 - Which of the following is not an indirect tax?

A ) Land revenue ✅
B ) Custom duties
C ) Entertainment tax
D ) Sales tax

2 - Which of the following is not a direct tax?

A ) Estate tax
B ) Sales tax ✅
C ) Corporation tax
D ) Wealth tax

3 - A budgetary deficit means:

A ) Total expenditure is more than total revenue ✅
B ) Current expenditure is more than current revenue
C ) Capital expenditure is more than current revenue
D ) Total expenditure is more than current revenue

4 - Fiscal deficit in the budget means:

A ) Revenue deficit plus the net borrowings of the government
B ) Budgetary deficit plus the net borrowings of the government ✅
C ) Capital deficit plus revenue deficit
D ) Primary deficit minus capital deficit

5 - Gross National Income is always more than Net National Income because it includes:

A ) Foreign income
B ) Capital consumption allowance ✅
C ) Indirect taxes
D ) Direct taxes

6 - National income refers to:

A ) Money value of goods and services produced in a country during a year. ✅
B ) Money value of stocks and shares of a country during a year.
C ) Money value of capital goods produced by a country during a year.
D ) Money value of consumer goods produced by a country during a year.

7 - According to the law of demand,when:

A ) Price increases demand decreases ✅
B ) Price decreases demand decreases
C ) Price increases demand increases
D ) Price decreases demand does not change

8 - 'Forex'stands for

A ) For examine
B ) Foreign exchange ✅
C ) Foreign exports
D ) Foreign expert

9 - The cause of inflation is:

A ) Increase in money supply
B ) Fall in production
C ) Increase in money supply and fall in production ✅
D ) Decrease in money supply and fall in production

10 - Bhat is the currency of which country?

A ) Thailand ✅
B ) Malaysia
C ) India
D ) Peru

12 - When the stock market is rising it is called......

A ) Bearish
B ) Bullish ✅
C ) Hot
D ) Rising up

13 - The major government policies that can be used to persue it's macroeconomics goals are

A ) Fiscal Policy and Debt Policy
B ) Fiscal policy and Monetary Policy ✅
C ) Fiscal Policy,Debt Policy and Monetary Policy
D ) Fiscal Policy, Monetary Policy and Subsidies

14 - The government's Fiscal Policy denotes the use of government's

A ) Taxes and Expenditures ✅
B ) Consumption and Investment
C ) Taxes and Revenue
D ) Consumption and Expenditure

15 - Three main drivers of economic growth are

A ) Consumption, Investment and Employment
B ) Saving, Expenditures and Debt
C ) Revenue, Expenditure and Savings
D ) Consumption, Investment and Savings ✅