Government Budget and the Economy Class 12 MCQs. Class 12 economics topic Government Budget and the Economy and Employment MCQs with Answers for the ongoing batch help you comprehend the concepts provided in Class 12 economics chapter-wise MCQs. We will help you in gaining complete knowledge of the concepts. MCQ Questions for Class 12 Economics with Answers. This MCQ solution helps you gain an extra understanding of various aspects of the Government Budget and the Economy provided in the topic of the Class 12 economics textbook. Resource material that top teachers and students recommend. We advise you to take advantage of this class 12 economics MCQ with answers.
Class 12 Economics Multiple Choice Questions online test of Getting to Know details about this chapter. The new sets of Multiple choice questions appear in each new test students select. If you have any doubts, please visit the Discussion Forum to ask your doubts.
Important Multiple Choice Questions (MCQs) of Government Budget and the Economy
We have provided Government Budget and the Economy Class 12 Eco MCQs Questions with Answers to help students understand the concept very well. Practice MCQ Questions for Class 12 Eco with Answers on a daily basis and score well in exams. Refer to the Eco Class 12 MCQs Questions with Answers here along with a detailed explanation.
Also Read: Class 12 chapter-wise MCQ
Government budget and Economy class 12 bullet points for mcq online test
- A government budget is an annual financial statement that outlines the government’s revenue and expenditure for a fiscal year.
- The budget can be used as an instrument of fiscal policy to achieve various macroeconomic objectives such as controlling inflation, promoting economic growth, and reducing unemployment.
- The components of the budget include revenue receipts, capital receipts, revenue expenditure, and capital expenditure.
- The budget deficit occurs when the government’s expenditure exceeds its revenue. On the other hand, a budget surplus occurs when the government’s revenue exceeds its expenditure.
- The budget’s impact on the economy depends on various factors such as the size of the budget deficit or surplus, the type of expenditure, and the revenue sources.
Below we have embedded class 12 Economics multiple choice questions—question papers prepared by the most experienced teachers. If you have any doubts about solving the below questions then visit our Youtube channel Academic Excellence in School and watch the free video tutorials.
You can view your marks immediately after taking the test. After submitting the Paper click on the View Score button to get the score. Class 12 Macroeconomics Chapter 5 | Government Budget and the Economy MCQs 2022-23.
Please read the instructions carefully before the test.
1. All the students must take note of the time because the time limit is 45 minutes.
2. Attempt all the Questions.
3. Each MCQ carries 1 mark and each fill-up carries 2 marks.