Deck 3: Public Finance and Economic Concepts and Terms

Question 1

External debts can be raised from ...........

A)individuals
B)rbi
C)commercial banks
D)world bank

Answer 1

world bank

Question 2

Debts that are repaid at some specific future date are known as

A)redeemable debts
B)irredeemable debts
C)treasury bill
D)none of the above

Answer 2

redeemable debts

Question 3

External loans are raised from

A)idbi
B)icici
C)rbi
D)wto

Answer 3

wto

Question 4

The concept of Merit goods was developed by ................

A)musgrave
B)marshall
C)adam smith
D)zak

Question 5

Non-rival consumption is the feature of ..............

A)public good
B)private good
C)merit good
D)necessary good

Question 6

The theory of second best was introduced by ...............

A)lipse and lancester
B)allen and hicks
C)samuelson and hicks
D)horrod and dommor

Question 7

Wagner's Law of increasing ............ activities.

A)central
B)state
C)local
D)one of these

Question 8

Wiseman-Peacock was studied expenditure of .............. in 1890-1955.

A)ussr
B)usa
C)uk
D)none of these

Question 9

Pure theory of public expenditure is based on ..............

A)benefit
B)loss
C)profit
D)none of these

Question 10

Social marginal productivity criteria was developed by ...........

A)malthus
B)a. e. khan
C)a. k. sen
D)none of these

Question 11

Balanced budget means ................ between revenue and expenditure.

A)balance
B)unbalance
C)unequal
D)none of these

Question 12

................... budget concept was first introduced in USA in 1964.

A)zero-base
B)no zero-base
C)surplus base
D)none of these

Question 13

Public debt is the debt owed by ................

A)industry
B)individual
C)central government
D)bank

Question 14

In a concept of budgetary deficit, ............... is always greater than the total revenue.

A)public expenditure
B)taxes amount
C)money supply
D)crr

Question 15

............ tax is in the jurisdiction of the Central government.

A)land revenue
B)corporation tax
C)excise on alcohol
D)tax on electricity consumption

Question 16

In internal debt ................ are important.

A)external loans
B)market loans
C)personal loans
D)none of these

Question 17

Public debt in Indian Economy is .................... in nature.

A)increasing
B)decreasing
C)constant
D)none of these

Question 18

Fiscal Crisis was carried in ................. period.

A)planning
B)new economic policy
C)before indpendence
D)none of these

Question 19

Which of the following is a Revenue Receipt?

A)loan from the imf
B)grant received from the world bank
C)borrowing from the public
D)sale of the shares held by the government in hmt

Question 20

Which of the following is a Capital Receipt?

A)profit tax
B)railway ticket fare
C)fee of the government hospital
D)borrowing from the public

Question 21

Which one of the following is not the form of Tax Revenue?

A)income tax
B)sales tax
C)license fee
D)excise duty

Question 22

Identify the Capital Receipts

A)penalty
B)corporation tax
C)dividends on investments made by the government
D)sale of a public sector undertaking

Question 23

Existence of Centre State economic inequalities is known as

A)vertical imbalance
B)horizontal imbalance
C)parallel imbalance
D)none of these

Question 24

A multilevel decentralized fiscal system involving sharing of fiscal responsibilities between central, state and local governments is referred to as:

A)fiscal union
B)fiscal federalism
C)fiscal equalisation
D)fiscal generalism