Public Economics Quiz | Public Economics Question and Answer for Practice

31. The neo-Keynesian approach to public finance is called

1. Functional finance
2. Aggregate demand
3. Global finance
4. Federal finance

32. The principle of Maximum Social Advantage have been suggested by

1. Pigou
2. Dalton
3. Musgrave
4. Adam Smith

33. The revenue of the State Government is raised from the following sources except one, which is that?

1. Land revenue
2. agricultural income tax
3. Entertainment tax
4. expenditure tax

34. The Theory of Maximum Social Advantage was given by

1. Marshal
2. Dalton
3. Musgrave
4. Mill

35. The VAT was first introduced in

1. India
2. Britain
3. USA
4. France

36. The VAT was first introduced in the year

1. 2003
2. 2004
3. 2005
4. 2006

37. The Wanchoo Committee (1971) probed into

1. Direct taxes
2. indirect taxes
3. Agricultural holding tax
4. non-tax revenue

38. The Zero-based budgeting was first adopted in

1. India
2. France
3. Germany
4. USA

39. There is a view that reduced rates on income tax would lead to a significant rise in income tax revenue. This view has been attributed to

1. Herbert Simon
2. Arthur Laffer
3. Robert Lucas
4. J.B. Say

40. Those goods whose consumption and use are to be encouraged are called

1. Private good
2. Public good
3. merit good
4. mixed good

41. Treasury bills issued by the Government are in the nature of

1. Funded debts
2. Floating debts
3. Irredeemable debts
4. None

42. Unemployment insurance is an example of

1. Built in flexibility
2. Formula Flexibility
3. Discretionary Action
4. none of these

43. Unfunded debts are also known as

1. Funded debts
2. Floating debts
3. Irredeemable debts
4. None

44. Wagners Law is related to

1. Public revenue
2. Public expenditure
3. Public debt
4. Budget

45. When Ed is greater than Es, more incidence is on

1. Buyers
2. Sellers
3. Govt.
4. none of these