Public Finance Set 5

Master of Arts in Economics (MA Economics)

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This set of Public Finance Multiple Choice Questions & Answers (MCQs) focuses on Public Finance Set 5

Q1 | According to Peackock Wiseman hypothesis, A discontinuity in the growth pattern whichproduces expenditure peak during social disturbances is referred to as:
Q2 | The theory of fiscal policy derives from
Q3 | Fiscal Federalism refers to
Q4 | Marginal cost of providing the public goods to additional consumers is:
Q5 | Mixed goods are those goods having benefits which are:
Q6 | Escheat is an example of
Q7 | Gift tax was introduced in the year
Q8 | _________ is a broad based and a single comprehensive tax levied on goods and servicesconsumed in an economy
Q9 | In India GST was introduced in the year
Q10 | ______________________ is the first country to implement GST
Q11 | In which year GST was first introduced
Q12 | The movement from older level of expenditure and taxation to a new and higher level is called
Q13 | The diffusion theory was associated with the name of
Q14 | The existence of economic inequalities among the states is known as
Q15 | When expenditure exceeds total tax revenue, it is called:
Q16 | The Benefit Principle of taxation states that tax should be paid in proportion to:
Q17 | The most accepted theory of taxation in modern times:
Q18 | In which of the following type of economy, the revenue from taxation is likely to be the least?
Q19 | The horizontal fiscal imbalance that arises in a fiscal federation is also called:
Q20 | Tax revenue sharing between the federal and sub-national governments is aimed at correctingwhich of the following type of imbalances?
Q21 | In a free market economy, self-interested individuals operate through a system of mutualinterdependence to promote the general benefit of society at large. Adam Smith referred this as:
Q22 | Expenditure incurred by the Government on building durable assets, like highways, multipurposedams, irrigation projects are in the nature of
Q23 | Which of the following describes the situation where revenues and expenditures are equal duringa given period?
Q24 | During the process of economic development, the share of public expenditure to Gross DomesticProduct tends to expand. This is called:
Q25 | The principle of public expenditure that requires that Government should avoid shortfall ofrevenue in comparison with its expenditure is termed as
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