Question : If the government revenue expenditure exceeds revenue receipt, it is called:

Option 1: revenue deficit

Option 2: primary deficit

Option 3: capital deficit

Option 4: fiscal deficit

Question : When expenditure exceeds revenue, the budget is said to be in_____________.

Option 1: deficit

Option 2: surplus

Option 3: reserve

Option 4: debt

Question : The gross primary deficit can be expressed as ______.

Option 1: Gross fiscal deficit – Net interest liabilities

Option 2: Capital expenditure – Revenue deficit

Option 3: Gross fiscal deficit + Net interest liabilities

Option 4: Revenue deficit + Capital expenditure

Question : A ____ deficit is financed by net capital flows the rest of the world, thus by a capital account surplus.

Option 1: current account

Option 2: saving account

Option 3: capital account

Option 4: asset account

Question : Gross primary deficit is the difference between ______.

Option 1: revenue deficit and interest receipts

Option 2: gross fiscal deficit and interest receipts

Option 3: revenue deficit and interest payments

Option 4: gross fiscal deficit and net interest liabilities