Public Economics MCQs Quiz Multiple Choice Questions & Answers Page 2

Public Economics MCQs questions answers

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Public Economics Questions with Answers

51. When individuals with unequal tax paying ability should be taxed unequally in order to equal sacrifice is called

52. When the government raises revenue by borrowing from within the country is known as

53. Which is the main objective of a tax

54. Which is the main point on the basis of which public finance can be separated from private finance

55. Which is the method of financial adjustment between Centre and States?

56. Which is the tax shifting

57. Which of the following is a Statutory Body?

58. Which of the following is not a Commodity Tax

59. Which of the following is the major source of revenue in India

60. Which of the following taxes is the most likely to be regressive?

61. Which one of the following is a tax base

62. Which one of the following is an optional function of Government?

63. Which one of the following is not a method for redeeming public debt?

64. Which one of the following is not a public utility?

65. Which one of the following is not a tax base?

66. Which one of the following is the most acceptable theory of taxation

67. Which one of the following taxes is levied by the State Government only?

68. Which tax cannot be shifted to others?

69. Who is the author of the book The Theory of Public Finance?

70. Who is the exponent of Law of Increasing State Activities?

71. Who is the father of Public Finance

72. Who proposed the Zero-based budgeting for the first time

73. Wiseman-Peacock hypotheses supports in a much stronger manner the possibility of

74. .......... is a special type of once for all tax on capital imposed to repay war debts.

75. ........... is the process of replacing maturing securities with new securities.

76. ............ refers to refusal to repay the debt

77. ................ is the debt which is paid any legal enforcement

78. .................... is a broad based and a single comprehensive tax levied on goods and services consumed in an economy

79. .................... is the first country to implement GST

80. A budget where there is excess of expenditure over revenue is called

81. A criterion by which public goods are distinguished from private goods

82. A duty levied on goods when they entering a town

83. A proportional tax is one in which the rate of tax remains ....... irrespective of the level of income

84. A tax levied at 5 percent on the first Rs. 10,000 of income, 10 percent on the next Rs20,000 and 12 percent on the next Rs 30,000 would be

85. A tax levied upon a firm as a percentage of its value added

86. A tax that can be shifted is called

87. According to Colin Clark maximum limit of the tolerance level is ...... of GNP

88. According to Laffer, when the tax rate is 100 per cent , the tax revenue will be

89. According to Musgrave the major functions of public finance is

90. Adolph Wagner was a.................Economist

91. Advolorum duties are levied on

92. Agricultural Holding Tax was recommended by

93. Among the following canons of taxation which one has been given by Adam Smith

94. Author of General Theory of Employment, Interest and Money

95. Capital Levy method has been advocated by

96. Central Assistance for State and UT plan is a part of

97. Chairman of the first Finance Commission

98. Corporate Income tax is the tax levied on

99. Critical Limit Hypothesis was associated with the name of

100. Customs duties are imposed on commodities as they cross


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