(IGP) GS Paper 1 – Economic & Social Development – “Fiscal System : MCQ”

Integrated Guidance Programme of General Studies for IAS
(Pre)

Subject – Economic and Social Development
Chapter – Fiscal System

1. Consider the following
statements.

  1. A depression is an economic down turn that
    is less severe.
     
  2. A recession is any economic down turn where
    real GDP declines by more than 10 percent.

        Which of the above
statements is / are true.

  1. Both 1 & 2
  2. 1 only
  3. Neither 1 nor 2
  4. 2 only

2. Consider the following statements.

  1. Difference between fiscal deficit & the
    interest payments are called primary deficit.
     
  2. Revenue deficit is the difference between
    the Revenue receipts on tax & non tax sides & the revenue expenditure.

        Which of the above
statements is / are true.

  1. Both 1 & 2
  2. 2 only
  3. 1 only
  4. Neither 1 nor 2


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