NEW
Font size
WorksheetsJC Government Revenue & Expenditure Quiz
Total questions: 10
Worksheet time: 5mins
What is one of the reasons the government is involved in the economy?
To increase personal wealth
To privatize public services
To regulate the economy
To eliminate taxes
What does taxation refer to?
The creation of jobs in the private sector
The government practice of collecting money to pay for public services
The allocation of funds for national debt
The practice of borrowing money from citizens
What is debt servicing?
The creation of surplus budgets
The regulation of the economy
The allocation of money for paying off national debt
The process of collecting taxes
What does capital describe?
Everyday or regular income and expenditure
One-off or long-term income and expenditure
The government's planned revenue
The government's planned expenditure
What does current describe?
One-off or long-term income and expenditure
The government's deficit budget
Everyday or regular income and expenditure
The government's surplus budget
What is the national budget?
A document showing the government's taxation policies
A document showing the government's enterprise support plan
A document showing the government's planned revenue and expenditure for the next year
A document showing the government's debt servicing plan
What is a surplus budget?
When planned total income is greater than planned total expenditure
When planned total income is equal to planned total expenditure
When planned total expenditure is greater than planned total income
When planned total expenditure is equal to planned total income
What is a balanced budget?
When planned total income is greater than planned total expenditure
When planned total income is equal to planned total expenditure
When planned total expenditure is greater than planned total income
When planned total expenditure is less than planned total income
What is a deficit budget?
When planned total income is greater than planned total expenditure
When planned total income is equal to planned total expenditure
When planned total expenditure is greater than planned total income
When planned total expenditure is less than planned total income
Which of the following is NOT a reason for government involvement in the economy?
To protect natural resources
To create jobs and collect taxes
To eliminate public services
To regulate the economy
