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Published on: 06/11/2020
12th Standard Economics Fiscal Economics English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021
Download Tamil Nadu 12th Standard Economics question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.
Questions + Answers key
Take MCQ Economics Test

1.
The existing Government may or may not continue for the year, on account of the fact that elections are due, then the Government places a __________.
Balanced Budget
Election Budget
Lame duck Budget
None of the above
2.
Find the meaning of following statement. “Payable by the manufacturer who shifts the tax burden to retailers and wholesalers.”
Stamp Duty
Income Tax
Shifting Tax
Excise Duty
3.
Central Board of Direct Taxes is under control of …………..?
The Ministry of External Affairs
The Ministry of Finance
The Ministry of Urban Development
None of the above
4.
Grants from foreign countries are known as……………?
Global Aid
Foreign Aid
International Aid
All the above
5.
The defence expenditure of the government was Rs.10,874 crores in ________ which increased significantly to Rs.2,95,511 crores in _________?
1950-51 and 2018-19
1990-91 and 2018-19
1980-81 and 2018-19
2000-01 and 2018-19
6.
Find the author of following statement. “Public finance is an investigation into the nature and principles of the state revenue and expenditure”.
Ricardo
Dalton
Marshall
Adam Smith
7.
The term fiscal is derived from Greek word which means basket and symbolizes the………………?
public purse
tax
fees
public revenue
8.
Budget Deficit = _________
Total Expenditure - Total Revenue
Total Expenditure + Total Revenue
Total Expenditure x Total Revenue
Total Expenditure \(\div \) Total Revenue
9.
There are _________ types of canons of taxation.
Two
Three
Four
Five
10.
The private sector aims to maximize __________
Benefit
Profit
welfare
Both 'a' and 'b'
11.
___________ state is a welfare state.
Economic
Political
Modern
Fiscal
12.
The term 'Fiscal' is derived from ___________ word.
Latin
French
Greek
British
13.
GST will mainly remove the _________
Cascading effect
VAT
CGST
Both (a) and (c)
14.
A ________ is a penalty imposed on an individual for violation of law.
Grants
Aids
Fine
fees
15.
Public finance is related to the financing of the ___________ activities.
State
Central
Both (a) and (b)
None of the above
16.
Consider the following statements and identify the right ones.
(i) The finance commission is appointed by the President
(ii) The tenure of Finance commission is five years
i only
ii only
both
none
17.
Conversion of public debt means exchange of
New bonds for the old ones
Low interest bonds for higher interest bonds
Long term bonds for short term bonds
All the above
18.
Deficit Budget means
An excess of government's revenue over expenditure
An excess of government's current expenditure over its current revenue
An excess of government's total expenditure over its total revenue
None of above
19.
The difference between total expenditure and total receipts including loans and other liabilities is called
Fiscal deficit
Budget deficit
Primary deficit
Revenue deficit
20.
One of the following is NOT a feature of private finance
Balancing of income and expenditure
Secrecy
Saving some part of income
Publicity
1.
(c)
Lame duck Budget
2.
(d)
Excise Duty
3.
(b)
The Ministry of Finance
4.
(d)
All the above
5.
(b)
1990-91 and 2018-19
6.
(d)
Adam Smith
7.
(a)
public purse
8.
(a)
Total Expenditure - Total Revenue
9.
(c)
Four
10.
(d)
Both 'a' and 'b'
11.
(c)
Modern
12.
(c)
Greek
13.
(a)
Cascading effect
14.
(c)
Fine
15.
(a)
State
16.
(c)
both
17.
(b)
Low interest bonds for higher interest bonds
18.
(c)
An excess of government's total expenditure over its total revenue
19.
(a)
Fiscal deficit
20.
(d)
Publicity
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Tamilnadu Stateboard 12th Standard Subjects

Maths

Chemistry

Physics

Biology

Computer Science

Business Maths and Statistics

Economics

Commerce

Accountancy

History

Computer Applications

Biology

Computer Technology

Computer Applications

Computer Science

Business Maths and Statistics

Commerce

Economics

Maths

Chemistry

Physics

Computer Technology

History

Accountancy

Tamil

English

French
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