The total expenditure of the government is divided into: MCQ with Answer and Explanation

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The total expenditure of the government is divided into:

A. plan and non-plan expenditure only

B. revenue expenditure and capital expenditure

C. direct and indirect expenditure

D. mandatory and voluntary expenditure

Answer: Option B

Solution (By JKSSB Mock Tests)

Total government expenditure is classified into revenue expenditure and capital expenditure.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'personal consumption expenditure price index' is commonly used in which country?

A. United States

B. Japan

C. China

D. India

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Correct Answer: Option A

Explanation:
The PCE price index is a primary inflation measure in the US.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Trade-Related Investment Measures' agreement under WTO deals with:

A. banking

B. investment measures that affect trade

C. intellectual property

D. agriculture

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Correct Answer: Option B

Explanation:
TRIMs deals with investment measures that distort trade.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of production functions, returns to scale refer to:

A. Change in cost when output changes

B. Change in output when one input is varied

C. Change in output when all inputs are varied proportionately

D. Change in price when supply changes

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Correct Answer: Option C

Explanation:
Returns to scale examine how output changes when all inputs are increased by the same proportion. They can be increasing, constant or decreasing.

This question belongs to: Economy GK Economy Set 1

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