Public Finance and Fiscal Policy Part 2 Online Test

Taxation includes:
Loss of Revenue
Compliance Cost
Administrative Cost
Excess burden of Taxation
All of the above
The incidence of Tax refers to:
The effect of the Tax
the rate of taxation
One who is immediately responsible to pay the Tax
The one who finally bears the monitory burden of the Tax
None of these
Which of the following forms the basis of corporate tax?
The inflation in the economy
Capital employed in the company
Turnover in the company
Profit after dividend
Profit after dividend
“The state must avoid resorting to Deficit Financing” Which Canon of Public Expend follows this statement?
Canon of sanction
Canon of convenience
Canon of economy
Canon of elasticity
Canon of surplus
An instance of Direct Taxes includes:
Income Tax
Estate Duty
Wealth Tax
Toll Tax
All of these
Indirect Taxes are not favoured as they:
don’t raise sufficient Revenue
exert excess pressure on the rich
are Regressive
are hard to collect
None of these
Which of the following factors determine the Degree and direction to which a Tax can be shifted? I Tax Compliance II Elasticity of Demand and Supply III Net Interest Payments
I only
II only
III only
I and II
II and III
Which Principle of Public Finance states that the Marginal Social Benefit of Expenditure is equal to the Marginal Sacrifice of Tax?
Simplicity Principle of Taxation
Maximum Social Advantage
Equal Sacrifice Principle
Equity Principle of Taxation
Ability Principle of Taxation
In terms of Revenue, a tax on a commodity is more successful when:
The Supply of and Demand for the commodity is Elastic
The Supply of and Demand for the commodity is Inelastic
The Supply of the commodity equals its Demand
The Percentage of Tax is high
The Percentage of Tax is low
Which of the following determines the Tax Yield?
The Tax coverage
The Tax Compliance
Tax Rate Structure
Administrative Efficiency
All of the above
Description:

The Government and other Public authorities undertake a number of financial activities. The expenditures and the tools to finance the Government expenditures form an important part of the study of Public Finance. Here is a 7-minute short Multiple Choice questions test relating to the various aspects of Public Expenditure, Public Revenue, Public Debt, Financial Administration, Public Finance and Fiscal Policy. While taking this test, go through all the options very carefully and then, mark your answers.

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