Public Economics MCQ Questions and Answers Quiz

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

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

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

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

143. 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

144. The Theory of Maximum Social Advantage was given by

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

145. The VAT was first introduced in

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

146. The VAT was first introduced in the year

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

147. The Wanchoo Committee (1971) probed into

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

148. The Zero-based budgeting was first adopted in

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

149. 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

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

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