Public Economics MCQ Questions and Answers Quiz

11. The government which taxes the least is the best, is the belief of

  1. Mercantilists
  2. Physiocrates
  3. Modern
  4. Classical

12. The Great Depression occurred during

  1. 1919-23
  2. 1929-33
  3. 1949-53
  4. 1901-05

13. The idea of ..Democratic Decentralization in India was popularized by

  1. A.D. Gorwala Committee, 1951
  2. B.R. Mehta Committee, 1957
  3. Ashok Mehta Committee, 1978
  4. None of these

14. The ideal system of public Finance is one where the net benefit is

  1. Maximum
  2. Minimum
  3. Zero
  4. Infinity

15. The income of the government through all its sources is called

  1. Public expenditure
  2. public revenue
  3. Public finance
  4. none of these

16. The Indian income tax is

  1. Direct and proportional
  2. Indirect and proportional
  3. Indirect and progressive
  4. Direct and progressive

17. The Indian tax system is

  1. Proportional
  2. Progressive
  3. Regressive
  4. Degressive

18. The item or economic activity on which tax is imposed is known as

  1. Tax buoyancy
  2. tax rate
  3. Excess burden
  4. tax base

19. The Kelkar Proposals are concerned with

  1. Recommendations for reforms in the power sector
  2. Recommendations for tax reforms
  3. Guidelines for the privatization of public sector undertakings
  4. None of the above

20. The Kerala Panchayat Raj Act was passed in the legislature in the year

  1. 1995
  2. 1994
  3. 2000
  4. 1999
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