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Exercise and reference answers
- Clues and terms
- Clue
- Statement of the government's yearly finances.
- Item
- Budget
- Clue
- Tax falling on income of a person or firm.
- Item
- Direct tax
- Clue
- Tax falling on goods and services.
- Item
- Indirect tax
- Clue
- The direct tax paid by companies.
- Item
- Corporation
- Clue
- Duty on goods entering or leaving India.
- Item
- Customs
- Clue
- Receipt from borrowing or selling assets.
- Item
- Cap receipt
- Clue
- Total spending above total receipts.
- Item
- Fiscal deficit
- Clue
- Deficit that forms a part of the fiscal one.
- Item
- Rev deficit
- Clue
- How a fiscal deficit is financed.
- Item
- Borrowing
- Instructions
- Read each clue and tap the term it describes.
Explanation
_Source: syllabus Introductory Macroeconomics, Ch 5 'Government Budget and the Economy'_
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