A zero-primary deficit indicates that: MCQ with Answer and Explanation

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A zero-primary deficit indicates that:

A. there is no fiscal deficit

B. revenue deficit is zero

C. fiscal deficit equals interest payments

D. total expenditure equals revenue receipts

Answer: Option C

Solution (By JKSSB Mock Tests)

Primary deficit is fiscal deficit minus interest payments; zero primary deficit means fiscal deficit equals interest payments.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Minimum Support Price' is based on which cost concept?

A. C2 cost

B. C3 cost only

C. only paid-out costs

D. A2 + FL cost

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Correct Answer: Option D

Explanation:
MSP is based on A2 plus family labour (FL) cost, though CACP recommends and government can consider C2.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' refund for exporters is available through:

A. income tax return

B. GST refund mechanism

C. SEBI

D. customs only

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Correct Answer: Option B

Explanation:
Exporters can claim refunds of accumulated input tax credit under GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'e-invoicing' under GST is mandatory for businesses with turnover above:

A. Rs 10 crore

B. Rs 5 crore

C. Rs 20 crore

D. Rs 1 crore

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Correct Answer: Option B

Explanation:
E-invoicing is mandatory for businesses above a specified turnover threshold, currently Rs 5 crore.

This question belongs to: Economy GK Economy Set 1

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