National Budget
National Debt
National debt is the total amount of money owed by the goverment
General Goverment Debt
General goverment debt is the national debt plus the goverment debt
Debt Servicing
Debt servicing is the term used to describe the payment of intrest on the national debt
National Budget Question
The following figures were produced by a Minister for Finance on Budget Day
as projections for the year 2002.
Main items of Revenue and Expenditure (Estimated figures in IR£):
Health & Social Welfare 275m, PAYE: 338m, Education & Science: 166m,
Customs Duty 18m, DIRT 73m, Excise Duty 73m, Defence 49m, VAT 144m, Debt
Servicing 138m, Agriculture 76m, Corporation Tax 57m.
A) From the above information, draft the National Budget for 2002.
Is this budget a Surplus or a Deficit Budget? (16 marks)
as projections for the year 2002.
Main items of Revenue and Expenditure (Estimated figures in IR£):
Health & Social Welfare 275m, PAYE: 338m, Education & Science: 166m,
Customs Duty 18m, DIRT 73m, Excise Duty 73m, Defence 49m, VAT 144m, Debt
Servicing 138m, Agriculture 76m, Corporation Tax 57m.
A) From the above information, draft the National Budget for 2002.
Is this budget a Surplus or a Deficit Budget? (16 marks)
Questions
1.The total amount amount owed by the Goverment is?
A) Current Budget B) National Debt C) Capital Debt
2.If the budget is a deficit then it is a?
A) Surplus Current budget B)Deificit Budget C)Exchequer Balance
3.The National Budget is Prepared by the?
A) Health Minister B)Finace Minister C) Defence Minister
4.Goverment ................. expenditure is the spending by the goverment on the provision of goods and services that will be totally consumed in the year.
A)Current B)Capital C) Long term
5.The goverment ............ expenditure is the spending by the goverment on assets that will benifit the country for some years in the future.
A) Current B) Capital C) day to day
6.The General Goverment Debt is also known as the?
A)DD Debt B) GG Debt C) FF Debt
7. Which Department spends the most?
A) Health B) Finance C) Education
8.Which one is not Capital Expenditure?
A) New Roads B) New Hospitial C) Teachers Wages
9.Which is Income for the Goverment?
A) PAYE B) Debt Servicing C) General Debt
10.Who is the Finance Minister?
A) Brian Cowen B) Michael Noonan C) Enda kenny
A) Current Budget B) National Debt C) Capital Debt
2.If the budget is a deficit then it is a?
A) Surplus Current budget B)Deificit Budget C)Exchequer Balance
3.The National Budget is Prepared by the?
A) Health Minister B)Finace Minister C) Defence Minister
4.Goverment ................. expenditure is the spending by the goverment on the provision of goods and services that will be totally consumed in the year.
A)Current B)Capital C) Long term
5.The goverment ............ expenditure is the spending by the goverment on assets that will benifit the country for some years in the future.
A) Current B) Capital C) day to day
6.The General Goverment Debt is also known as the?
A)DD Debt B) GG Debt C) FF Debt
7. Which Department spends the most?
A) Health B) Finance C) Education
8.Which one is not Capital Expenditure?
A) New Roads B) New Hospitial C) Teachers Wages
9.Which is Income for the Goverment?
A) PAYE B) Debt Servicing C) General Debt
10.Who is the Finance Minister?
A) Brian Cowen B) Michael Noonan C) Enda kenny
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