Public Economics Questions and Answers in Quiz Form 10 for Practice

136. Merit goods means

1. Public good
2. Free good
3. Rare good
4. White good

137. Mixed goods are those goods having benefits which are

1. rival
2. Non-rival
3. both a &b
4. none of these

138. Modern Canons of taxation are propounded by

1. Bastable
2. Adam Smith
3. Seligmon
4. Pigou

139. Modified Value Added Tax was introduced in India in

1. 1951
2. 1986
3. 1991
4. 1976

140. Modvat means

1. Modified value added tax
2. moderate value added tax
3. Modest value added tax
4. modern value added tax

141. Non-exclusion principle is related to

1. Private goods
2. Public goods
3. Merit goods
4. Mixed goods

142. Non-Plan Grants are determined by

1. Planning Commission
2. Finance Commission
3. Central Government
4. State Government

143. Non-rivalray and non-excludability are the characteristics of

1. Normal goods
2. Demerit goods
3. Inferior goods
4. Public goods

144. Principle of sound finance refers to

1. Maximum Government spending
2. Minimum Government spending
3. Revenue expenditure balanced at the minimum level
4. Balance between Tax and spending

145. Private goods are characterized by

1. Application of exclusion principle
2. Rivalry in consumption
3. Payment of prices
4. All the above

146. Public Authorities Include

1. Central Government
2. State Government
3. Local Government
4. All of these

147. Public debt leads to extravagance, encouraged resort to war and induced badeconomic conditions. This statement is of

1. Dalton
2. Adam Smith
3. J.K. Mehta
4. Findley Shirras

148. Public Debt Management refers to

1. Terms of new bonds
2. Proportion of different components of public debt
3. Maturity
4. All the above

149. Public Expenditure increases

1. Interest rate
2. Employment
3. Exports
4. Imports

150. Public Goods are

1. Excludable
2. Non-excludable
3. Marketable
4. All of these