Which of the following is the formula for calculating fiscal deficit? MCQ with Answer and Explanation

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Which of the following is the formula for calculating fiscal deficit?

A. Revenue expenditure − Revenue receipts

B. Capital expenditure − Capital receipts

C. Total expenditure − Total receipts including borrowings

D. Total expenditure − Total receipts excluding borrowings

Answer: Option D

Solution (By JKSSB Mock Tests)

Fiscal deficit = Total expenditure − (Revenue receipts + Non-debt capital receipts). It indicates the total borrowing requirement of the government.

This question belongs to: Economy GK Economy Set 1

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A. Kydland and Prescott

B. Friedman and Schwartz

C. Keynes and Hicks

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Correct Answer: Option A

Explanation:
Kydland and Prescott demonstrated that discretionary policy can be suboptimal because policymakers have an incentive to renege on previously announced optimal plans once private agents have formed expectations.

This question belongs to: Economy GK Economy Set 1

Question #2

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C. Supply curve

D. Cost curves

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Correct Answer: Option B

Explanation:
The Marginal Rate of Substitution (MRS) is the rate at which a consumer is willing to give up one good for another while remaining on the same indifference curve.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'National Curriculum Framework for Foundational Stage' was introduced as part of:

A. National Education Policy 2020

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Correct Answer: Option A

Explanation:
NCF-FS is part of the implementation of NEP 2020.

This question belongs to: Economy GK Economy Set 1

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