Test: Functions And Scope Of Government In Economic Affairs


10 Questions MCQ Test Business and Commercial Knowledge | Test: Functions And Scope Of Government In Economic Affairs


Description
Attempt Test: Functions And Scope Of Government In Economic Affairs | 10 questions in 10 minutes | Mock test for CA CPT preparation | Free important questions MCQ to study Business and Commercial Knowledge for CA CPT Exam | Download free PDF with solutions
QUESTION: 1

What among the following is NOT an example of 'public goods'?

Solution:
QUESTION: 2

What among the following is NOT an example of 'private goods'?

Solution:
QUESTION: 3

The function of a government to provide goods that cannot normally be provided by market mechanisms between individual customers and producers, is known as:

Solution:
QUESTION: 4

The function of a government to fairly share the public's resources is known as

Solution:
QUESTION: 5

The function of a government by which it seeks to seek a balance of employment, demand-supply, and inflation, is known as:

Solution:
QUESTION: 6

The Government Budget consists of which main component/s?

Solution:
QUESTION: 7

Loans raised by the government from the public are known as:

Solution:

The capital receipts are loans raised by the Government from the general public. The loan thus raised is termed as market loans, or borrowings by the Government from the Reserve Bank of India and other parties through the sale of Treasury Bills.

QUESTION: 8

Whenever the government spends more than it collects through revenue, the resulting imbalance is known as :

Solution:
QUESTION: 9

The idea that government's fiscal policy can be used to stabilize the level of output and employment can be attributed to which of the following economists:

Solution:

John Maynard Keynes's 1936 book, 'The General Theory of Employment, Interest, and Money' laid the foundations for Macroeconomics 

QUESTION: 10

The deliberate action of the government to stabilize the economy, as opposed to the inherent automatic stabilizing properties of the fiscal system, is known as

Solution:
Use Code STAYHOME200 and get INR 200 additional OFF
Use Coupon Code