The concept of 'Fiscal Space' refers to: MCQ with Answer and Explanation

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The concept of 'Fiscal Space' refers to:

A. Only the revenue deficit

B. Only the primary surplus

C. The physical space occupied by government offices

D. The room available for a government to increase spending or reduce taxes without endangering debt sustainability

Answer: Option D

Solution (By JKSSB Mock Tests)

Fiscal space is the budgetary room that allows a government to provide resources for desired purposes without compromising fiscal sustainability or crowding out private investment excessively.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Index of Eight Core Industries' comprises which proportion of the weight in the Index of Industrial Production?

A. 60%

B. 40%

C. 80%

D. 20%

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Correct Answer: Option B

Explanation:
The eight core industries have a combined weight of about 40.27% in the Index of Industrial Production.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Saubhagya' scheme aims to provide:

A. electricity connections to all households

B. bank accounts

C. water connections

D. gas connections

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Correct Answer: Option A

Explanation:
Saubhagya aims to provide universal household electricity access.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Incoterms' in international trade are published by:

A. World Bank

B. WTO

C. IMF

D. International Chamber of Commerce

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Correct Answer: Option D

Explanation:
Incoterms are published by the International Chamber of Commerce.

This question belongs to: Economy GK Economy Set 1

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