#1
What is the primary objective of government budgeting?
Maximizing profit
Minimizing taxes
Allocation of resources
Generating inflation
#2
Which budgetary type focuses on day-to-day government expenditures on goods and services?
Capital budget
Operating budget
Development budget
Surplus budget
#3
Which entity is responsible for preparing the federal budget in the United States?
Department of Treasury
Office of Management and Budget (OMB)
Congressional Budget Office (CBO)
Federal Reserve System
#4
What does the term 'pay-as-you-go' budgeting refer to in government finance?
Using credit for all expenditures
Paying for expenses with available funds
Implementing austerity measures
Privatizing government services
#5
Which international organization provides economic forecasts and policy advice to its member countries?
International Monetary Fund (IMF)
World Bank
World Trade Organization (WTO)
Organization for Economic Cooperation and Development (OECD)
#6
What is a fiscal policy tool that involves adjusting the money supply and interest rates to influence the economy?
Monetary policy
Supply-side policy
Trade policy
Industrial policy
#7
Which economic indicator is used to measure the overall health of an economy and includes all goods and services produced?
Consumer Price Index (CPI)
Gross Domestic Product (GDP)
Unemployment rate
Inflation rate
#8
Which budgetary approach involves estimating expenditures based on the previous year's budget with adjustments?
Zero-Based Budgeting
Incremental Budgeting
Performance-Based Budgeting
Participatory Budgeting
#9
What is the primary purpose of a contingency fund in government budgeting?
Cover unexpected expenses
Fund development projects
Reduce taxes
Boost inflation
#10
What is the purpose of a budget surplus in government finances?
Stimulating economic growth
Covering budget deficits
Reducing public debt
Increasing inflation
#11
In the context of government budgeting, what does the term 'deficit' refer to?
Excess revenue over expenditures
Shortfall in revenue compared to expenditures
Zero difference between revenue and expenditures
Surplus in capital budget
#12
Which type of budget aims to address environmental and social concerns while allocating resources?
Equity-Oriented Budget
Green Budget
Progressive Budget
Austerity Budget
#13
In the context of fiscal policy, what does contractionary fiscal policy involve?
Increasing government spending
Decreasing taxes
Reducing government spending and increasing taxes
Increasing government spending and decreasing taxes
#14
In the context of public finance, what does the acronym GFS stand for?
Government Fiscal System
Global Financial Stability
General Fund Surplus
Government Financial Statements
#15
Which factor is NOT considered in the calculation of the Human Development Index (HDI)?
Life expectancy
Gross national income per capita
Education attainment
Government budget surplus