Budget and the Economy Test

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Question 1
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion (A): Fiscal deficit is measured in terms of borrowings.
Reason (R): External borrowings increase the Fiscal deficit.

A
A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B
B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C
C. Assertion (A) is true but reason (R) is false.

D
D. Assertion (A) is false but reason (R) is true.

Question 2
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion (A): Revenue deficit includes capital receipts and capital expenditure.
Reason (R): Revenue deficit is related to revenue expenditure and revenue receipts of the government.

A
A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B
B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C
C. Assertion (A) is true but reason (R) is false.

D
D. Assertion (A) is false but reason (R) is true.

Question 3
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion (A): Budget shows monetary policy of the government.
Reason (R): Policy adopted by the Central Bank of an economy in the direction of credit control or money supply is known as Monetary Policy.

A
A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B
B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C
C. Assertion (A) is true but reason (R) is false.

D
D. Assertion (A) is false but reason (R) is true.

Question 4
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion (A): Fiscal deficit is the difference between primary deficit and interest payment.
Reason (R): Fiscal deficit is the sum total of primary deficit and interest payment.

A
A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B
B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C
C. Assertion (A) is true but reason (R) is false.

D
D. Assertion (A) is false but reason (R) is true.

Question 5
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion: This new Green Revolution is leading to foreign ownership over most of India's farmland, undermining farmers' interests.
Reason: The New Green Revolution is driven by private (and foreign) interest—notably MNCs like Monsanto.

A
A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B
B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C
C. Assertion (A) is true but reason (R) is false.

D
D. Assertion (A) is false but reason (R) is true.

Question 6
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion (A): the industries became more diversified during 1950-90 as compared to the situation at the time of independence.
Reason (R): Excessive government regulation prevented industrial growth during this period.

A
A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B
B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C
C. Assertion (A) is true but reason (R) is false.

D
D. Assertion (A) is false but reason (R) is true.

Question 7
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion (A) : The term modernisation indicates a variety of structural and institutional changes in the framework of economic activity.
Reason (R) : An advancement of technology and institutional innovations as well as shift in sectoral composition of production and diversification of activities.

A
A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B
B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C
C. Assertion (A) is true but reason (R) is false.

D
D. Assertion (A) is false but reason (R) is true.

Question 8
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion (A): Economic planning rules out the free play of market force.
Reason (R): It does not rule out free play of market forces rather it is dependent on a model of economic planning.

A
A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B
B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C
C. Assertion (A) is true but reason (R) is false.

D
D. Assertion (A) is false but reason (R) is true.

Question 9
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion: (A): Tariffs and quotas in the economic policy post-Independence were used to assist domestic industries.
Reason ( R): Our planners wanted to use foreign exchange for importing luxury goods.

A
A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B
B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C
C. Assertion (A) is true but reason (R) is false.

D
D. Assertion (A) is false but reason (R) is true.

Question 10
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion (A): Modernisation as a planning objective does not create contradiction in the light of employment generation.
Reason (R): Modernisation is related not only to modern technique but also relates to change in outlook.

A
A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B
B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C
C. Assertion (A) is true but reason (R) is false.

D
D. Assertion (A) is false but reason (R) is true.

Question 11
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion (A): In 1955, the Village and Small -Scale Industries Committee, also called the Karve Committee, noted the possibility of using small-scale industries for promoting rural development.
Reason (R): A small scale industry is defined with reference to the maximum investment allowed on the assets of a unit.

A
A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B
B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C
C. Assertion (A) is true but reason (R) is false.

D
D. Assertion (A) is false but reason (R) is true.

Question 12
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion (A): A good indicator of economic growth is steady increase in Gross domestic product (GDP).
Reason (R): GDP is the market value of all goods and services produced in a country during a year

A
A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B
B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C
C. Assertion (A) is true but reason (R) is false.

D
D. Assertion (A) is false but reason (R) is true.

Question 13
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion (A): The 1956 policy continued to constitute the basic economic policy for a long time.
Reason (R) According to this resolution the objective of the social and economic policy in India was the establishment of a socialistic pattern of society

A
A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B
B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C
C. Assertion (A) is true but reason (R) is false.

D
D. Assertion (A) is false but reason (R) is true.

Question 14
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion (A): One of the pillars of IPR 1956 was to check concentration of economic power in a few individuals, groups or business houses.
Reason (R): It established the public sector as the epicentre of industrialization.

A
A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B
B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C
C. Assertion (A) is true but reason (R) is false.

D
D. Assertion (A) is false but reason (R) is true.

Question 15
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Directions: In the following questions, a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as:
Assertion (A): Capitalist economies fosters self-interest and pushes economic growth.
Reason (R): Market economies make best use of available resources to economic growth.

A
A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B
B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C
C. Assertion (A) is true but reason (R) is false.

D
D. Assertion (A) is false but reason (R) is true.

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Budget and the ...

Question 1

A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C. Assertion (A) is true but reason (R) is false.

D. Assertion (A) is false but reason (R) is true.

Question 2

A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C. Assertion (A) is true but reason (R) is false.

D. Assertion (A) is false but reason (R) is true.

Question 3

A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C. Assertion (A) is true but reason (R) is false.

D. Assertion (A) is false but reason (R) is true.

Question 4

A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C. Assertion (A) is true but reason (R) is false.

D. Assertion (A) is false but reason (R) is true.

Question 5

A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C. Assertion (A) is true but reason (R) is false.

D. Assertion (A) is false but reason (R) is true.

Question 6

A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C. Assertion (A) is true but reason (R) is false.

D. Assertion (A) is false but reason (R) is true.

Question 7

A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C. Assertion (A) is true but reason (R) is false.

D. Assertion (A) is false but reason (R) is true.

Question 8

A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C. Assertion (A) is true but reason (R) is false.

D. Assertion (A) is false but reason (R) is true.

Question 9

A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C. Assertion (A) is true but reason (R) is false.

D. Assertion (A) is false but reason (R) is true.

Question 10

A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C. Assertion (A) is true but reason (R) is false.

D. Assertion (A) is false but reason (R) is true.

Question 11

A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C. Assertion (A) is true but reason (R) is false.

D. Assertion (A) is false but reason (R) is true.

Question 12

A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C. Assertion (A) is true but reason (R) is false.

D. Assertion (A) is false but reason (R) is true.

Question 13

A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C. Assertion (A) is true but reason (R) is false.

D. Assertion (A) is false but reason (R) is true.

Question 14

A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C. Assertion (A) is true but reason (R) is false.

D. Assertion (A) is false but reason (R) is true.

Question 15

A. Both assertion (A) and reason (R) are true and reason (R) is the correct explanation of assertion (A).

B. Both assertion (A) and reason (R) are true but reason (R) is not the correct explanation of assertion (A).

C. Assertion (A) is true but reason (R) is false.

D. Assertion (A) is false but reason (R) is true.

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