The 'outcome budget' presents: MCQ with Answer and Explanation

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The 'outcome budget' presents:

A. only revenue receipts

B. only capital receipts

C. only financial outlays

D. expected outcomes of government programmes

Answer: Option D

Solution (By JKSSB Mock Tests)

An outcome budget links financial outlays with expected outcomes of government schemes.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is NOT a method of measuring national income?

A. Product method

B. Expenditure method

C. Balance of payments method

D. Income method

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Correct Answer: Option C

Explanation:
National income is measured by product (value added), income and expenditure methods. Balance of payments is used for recording international transactions, not for measuring national income.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Periodic Labour Force Survey' provides estimates of:

A. inflation

B. employment and unemployment

C. GDP

D. foreign exchange reserves

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Correct Answer: Option B

Explanation:
PLFS provides labour force, employment and unemployment estimates.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Goods and Services Tax' on legal services is:

A. 12%

B. 5%

C. 0%

D. 18%

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Correct Answer: Option D

Explanation:
Legal services generally attract 18% GST, with some exemptions.

This question belongs to: Economy GK Economy Set 1

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