Public Economics MCQ Questions and Answers Quiz

81. Scope of public finance includes

  1. Public revenue
  2. Public debt
  3. Public expenditure
  4. All of these

82. Securities Transactions Tax(STT) was introduced in the year

  1. 2004-05
  2. 2005-06
  3. 2006-07
  4. 2007-08

83. Service tax in India was introduced in

  1. 1991-92
  2. 2001-02
  3. 2006-07
  4. 1994-95

84. Shortcoming of public debt is

  1. Political slavery
  2. danger of insolvency
  3. danger to countrys freedom
  4. all of the above

85. Short-period debts are called as

  1. Unfunded debts
  2. Funded debts
  3. Redeemable debts
  4. None

86. Sound tax policy is devised mainly on the basis of

  1. Maximum tax revenue
  2. Elastic tax base
  3. High income elasticity
  4. High price elasticity

87. Special Assessment means

  1. A tax on special benefits
  2. General tax on all people
  3. A periodical tax
  4. Gift tax

88. Tax avoidance is

  1. Illegitimate
  2. Legitimate
  3. Punishable
  4. None

89. Taxes which are based on specific qualities or attributes of goods are called

  1. Specific tax
  2. Advalorem tax
  3. customs duty
  4. Excise duty

90. The .................... had recommended certain reforms on the devolution of Grant-in-Aid (Plan fund) to LsGs from 2006-07 to 2010-11

  1. 3rd State Finance Commission
  2. 2rd State Finance Commission
  3. 1rd State Finance Commission
  4. None of the above
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