public finance fiscal & monetary policy section 1 MCQ Questions & Answers Detailed Explanation
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The following question based on Fiscal Policy, Public Finance and Monetary Policy topic of indian economy mcq
(a) the Reserve Bank of India
(b) the Securities and Exchange Board of India
(c) the Planning Commission
(d) the Finance Ministry
The correct answers to the above question in:
Answer: (d)
The Department of Economic Affairs (DEA) under Ministry of Finance is the nodal agency of the Union Government to formulate and monitor country’s economic policies and programmes having a bearing on domestic and international aspects of economic management.
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Question : 1
Basic infrastructure facilities in Economics are known as :
a) Working capital
b) Physical capital
c) Human capital
d) Social overheads capital
Answer »Answer: (d)
Social overheads capital is the capital spent on social infrastructures, such as schools, universities, hospitals, libraries.
They are capital goods of types that are available to anybody, hence social; and are not tightly linked to any particular part of the production, hence overhead.
Because of their broad availability they often have to be provided by the government. Examples of social overhead capital include roads, schools, hospitals, and public parks.
Question : 2
Match columns A and B wherein Column B defines Column A
Column A | Column B |
I. Public Account | a. Consists of all revenues and loans received by the government |
II. Consolidated fund | b. Comprises of the sum placed at the disposal of the President to meet unforeseen expenditure |
III. Contingency fund | c. Consists of receipts and payments, which are in form of deposit account with the government, such as provident funds, small savings, etc |
a) I-c, II-a, III-b
b) I-a, II-d, III-b
c) I-a, II-b, III-c
d) I-b, II-a, III-c
Answer »Answer: (a)
The budget shows the receipts and payments of the government under three heads.
All revenues and loans received by the government comes under Consolidated fund, the sum placed at the disposal of the President to meet unforeseen expenditure falls under Contingency fund and receipts & payments which are in form of deposit account with the government comprises Public Account
Question : 3
Fiscal Policy in India is formulated by
a) the Finance Ministry
b) the Planning Commission
c) the Reserve Bank of India
d) the Securities and Exchange Board of India
Answer »Answer: (a)
The Department of Economic Affairs (DEA) under Ministry of Finance is the nodal agency of the Union Government to formulate and monitor country’s economic policies and programmes having a bearing on domestic and international aspects of economic management.
GET Fiscal Policy, Public Finance and Monetary Policy PRACTICE TEST EXERCISES
public finance fiscal & monetary policy section 1
public finance fiscal & monetary policy section 2
public finance fiscal & monetary policy section 3
public finance fiscal & monetary policy section 4
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public finance fiscal & monetary policy section 6
public finance fiscal & monetary policy section 7
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