This quiz works best with JavaScript enabled. Home > Finance > Public Finance > Public Finance – Quiz 24 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 24 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is a way that taxation can contribute to social welfare? A) By reducing access to healthcare. B) By increasing economic inequality. C) By providing social safety net programs. D) By reducing access to education. Show Answer Correct Answer: C) By providing social safety net programs. 2. "Products that count the value of final goods and services only where the resources of the people of that country are used in their production, regardless of where in the world the people of that country are located or the income of the people of that country. Make income both domestically and abroad." Which of the following words is correct? A) Real GDP. B) Real GNP. C) GNP. D) GDP. Show Answer Correct Answer: C) GNP. 3. Who ultimately bears the financial burden of the coal tax in Montana? A) Consumer of electricity in Colorado. B) Montana coal miners. C) Electrical company who buys the coal. D) None of above. Show Answer Correct Answer: A) Consumer of electricity in Colorado. 4. Government income comes from many sources. But which one is not? A) Revenue from tax collection. B) Income from issuing treasury bills. C) State commercial income. D) Income from the sale of goods and services. Show Answer Correct Answer: B) Income from issuing treasury bills. 5. Principle of equilibrium A) Parliament's budget work is open and apparent. B) Making only one budget containing all expenditures and revenues, not more documents. C) Trying to balance with budget in that way, that expenditures are equal with revenues. D) Including all expenditures and revenues, not only selected ones. Show Answer Correct Answer: C) Trying to balance with budget in that way, that expenditures are equal with revenues. 6. To owe money to your bank because you have spent more than you have in your account A) Mortgage. B) To be in the black. C) To be in the red. D) To be an idiot. Show Answer Correct Answer: C) To be in the red. 7. Which of these is not included as an aspect of capital expenditure? A) Salaries. B) Road construction. C) Railway projects. D) Bridge projects. Show Answer Correct Answer: A) Salaries. 8. Which of the following is an example of a tax incentive? A) Property tax deduction. B) Income tax rate increase. C) Sales tax increase. D) Excise tax reduction. Show Answer Correct Answer: A) Property tax deduction. 9. The standard interest rate corresponds to which of the following? A) Deposit rate. B) Reference rate. C) Bank rate. D) Interbank rate. Show Answer Correct Answer: C) Bank rate. 10. Foreign currency burden is an ..... money Burden. A) Direct. B) Indirect. Show Answer Correct Answer: B) Indirect. 11. The current national debt ..... A) Has gone down in recent years. B) Increased dramatically. C) Stabled off. D) None of above. Show Answer Correct Answer: B) Increased dramatically. 12. There are three types of tax rate structures, which one is not? A) Progressive tax rate. B) Proportional tax rate. C) Regressive tax rate. D) Balanced tax rate. Show Answer Correct Answer: D) Balanced tax rate. 13. In India GST is introduced with effect from A) 1st July 2017. B) 1st Jan 2018. C) 1st Jan 2017. D) 1st July 2018. Show Answer Correct Answer: A) 1st July 2017. 14. Capital Budgeting should provide information to assist users in assessing the service efforts, costs, and accomplishments of the governmental entity A) TRUE. B) FALSE. Show Answer Correct Answer: B) FALSE. 15. Mandated by Execuive Order No. 12 to assist the President in the campaign against graft and corruption. A) Commission on Audit. B) Presidential Anti-Graft Commission. C) Sandigan Bayan. D) Civil Service Commission. Show Answer Correct Answer: B) Presidential Anti-Graft Commission. 16. Recreation is one that sells services to buyers. A) SERVICE. B) PRODUCT. Show Answer Correct Answer: A) SERVICE. 17. The decline in people's purchasing power can be overcome by: A) Tight money policy. B) Intensive fiscal policy. C) Export stimulus. D) High interest rates. Show Answer Correct Answer: B) Intensive fiscal policy. 18. Benefits provided under a social security arrangement must be adequate in both amount and duration to ensure that recipients may realize their rights to family protection and assistance, an adequate standard of living, and adequate access to health care. A) Availability. B) Social risks and contingencies. C) Adequacy. D) Accessibility. Show Answer Correct Answer: C) Adequacy. 19. Business finance is concerned with paying for governmental activities, and with the administration and design of those activities. A) TRUE. B) FALSE. Show Answer Correct Answer: B) FALSE. 20. Which of the following economists won the 1970 Nobel Prize? A) John Menard Keynes. B) Adam Smith. C) Paul Samuelson. D) Alfred Marshall. Show Answer Correct Answer: C) Paul Samuelson. 21. A progressive tax takes ..... A) The same percent from everyone. B) More from you the more you make. C) More from middle class workers. D) None of above. Show Answer Correct Answer: B) More from you the more you make. 22. Which of the following is a benefit of taxation? A) It promotes government accountability. B) It increases inequality. C) It decreases government revenues. D) It reduces economic growth. Show Answer Correct Answer: A) It promotes government accountability. 23. As a consumer increases the consumption of successive units a commodity, his marginal utility ..... A) Increases. B) Remains constant. C) Increases and remains the same. D) Decreases. Show Answer Correct Answer: D) Decreases. 24. Honorar, autoritasu A) A royalty. B) A commission. C) A salary. D) Wages. Show Answer Correct Answer: A) A royalty. 25. A bank account that you can take money out of at any time A) An investment account. B) A corporate account. C) A savings account. D) A current account. Show Answer Correct Answer: D) A current account. 26. "Government commitments resulting from direct borrowing both within the country and outside the country. both those created by the government and state enterprises Both guaranteed by the government and not guaranteed" corresponds to which of the following words? A) Public debt. B) Public expenditure. C) Treasury. D) International reserves. Show Answer Correct Answer: A) Public debt. 27. When it comes to budgeting, identifying areas of weakness helps the government to allocate resources in a useful and sustainable manner. It is important for the government to ensure that funds reach where it is required the most. A) Proper resource pool allocation. B) Ensuring economic growth. C) Growth of business and trading. D) Mitigating economic divide. Show Answer Correct Answer: A) Proper resource pool allocation. 28. Public expenditure, if spent properly, exerts an important influence on the entire economy. A) True. B) False. Show Answer Correct Answer: A) True. 29. Which of the following descriptions is correct? "The amount or amount of accumulated surplus income from state operations which the state has accumulated in the treasury. any given time." A) State savings. B) Reserve fund. C) Treasury. D) Remaining money to pay. Show Answer Correct Answer: C) Treasury. 30. To have money in your bank account A) To be in the red. B) To overdraw. C) To withdraw. D) To be in the black. Show Answer Correct Answer: D) To be in the black. ← PreviousNext →Related QuizzesFinance QuizzesPublic Finance Quiz 1Public Finance Quiz 2Public Finance Quiz 3Public Finance Quiz 4Public Finance Quiz 5Public Finance Quiz 6Public Finance Quiz 7Public Finance Quiz 8Public Finance Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books