This quiz works best with JavaScript enabled. Home > Finance > Public Finance > Public Finance – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 3 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which is the most active fa tors of production? A) Land. B) Labour. C) Capital. D) Organization. Show Answer Correct Answer: B) Labour. 2. A payment made to a writer, musician etc that depends on how many of their books, records etc have been sold, played A) Wages. B) A royalty. C) A salary. D) A commission. Show Answer Correct Answer: B) A royalty. 3. Which of the following does not use the type of money supply? A) M2b. B) M0. C) One hundred. D) What. Show Answer Correct Answer: A) M2b. 4. They're letting me pay for the washing machine by monthly ..... A) Price. B) Instalment. C) Amount. D) Quantity. Show Answer Correct Answer: B) Instalment. 5. ..... is the study of income, expenditure, borrowing and financial policy and administration of "the government. A) Economics. B) Private Finance. C) Public Finance. D) Accounting. Show Answer Correct Answer: C) Public Finance. 6. What does recognition lag mean? A) This refers to the time that it takes the government to figure out that the economy is not working at its potential output. B) This refers to the time that it takes for a fiscal stimulus to flow through the economy and generate the changes in spending pattern that are desires. C) The government might have recognized the need for action, but its implementataion may be delaybed in obtaining necessary approvals. D) None of above. Show Answer Correct Answer: A) This refers to the time that it takes the government to figure out that the economy is not working at its potential output. 7. It refers to the assistance rendered be society to the poor and needy persons voluntarily without placing any obligation on them to make any contribution to be entitled to relief such as workmen's compensation, maternity benef, it and old age pensi, on etc. A) Social Insurance. B) Social protection. C) Social assistance. D) Social security. Show Answer Correct Answer: C) Social assistance. 8. Which of the following is a purpose of government expenditure? A) Debt servicing. B) Tax refunds. C) Transfer payments. D) Tax incentives. Show Answer Correct Answer: A) Debt servicing. 9. ....The ideal fiscal policy is to find a balance between tax rates and public spending. A) False. B) True. Show Answer Correct Answer: B) True. 10. Who financed the election of Charles V? A) The Genoese. B) The Rotschilds. C) The Fuggers. D) The Templars. Show Answer Correct Answer: C) The Fuggers. 11. Who is the father of macroeconomics? A) Adam Smith. B) John Menard Keynes. C) Paul Samuelson. D) Alfred Marshall. Show Answer Correct Answer: B) John Menard Keynes. 12. Which of the following is an element of public finance? A) Public goods. B) Private goods. C) Private goods. D) All of the above. Show Answer Correct Answer: D) All of the above. 13. The citizens have no right to demand the most capable management of public funds. A) True. B) False. Show Answer Correct Answer: B) False. 14. ..... the overall gap between revenue and expenditure during a given year. A) Budget deficit. B) Revenue deficit. C) Fiscal deficit. D) Primary deficit. Show Answer Correct Answer: A) Budget deficit. 15. Which is not a tool/measure of monetary policy? A) Increasing/decreasing the standard interest rate. B) Increasing/decreasing the legal cash reserve rate. C) Government Bond Trading. D) Central Bank Securities Trading. Show Answer Correct Answer: C) Government Bond Trading. 16. Which is not a law related to or talking about state enterprises? A) National Economic Development Council Act, B.E. 2502. B) Annual Budget Act B.E. 2022. C) Standard Qualifications Act for Directors and Employees of State Enterprises, B.E. 2518. D) Public Debt Management Act 2005. Show Answer Correct Answer: B) Annual Budget Act B.E. 2022. 17. NEP in budgeting Stands for? A) National Expenditure Program. B) Net ecosystem productivity. C) Noise equivalent power. D) North East Poblacion. Show Answer Correct Answer: A) National Expenditure Program. 18. The quantitative aspects are related to A) Total debt, external debt and internal debt. B) Debt growth. C) Resource allocation. D) Public finance management. Show Answer Correct Answer: A) Total debt, external debt and internal debt. 19. Which of the following agencies ranks #1 in tax collection in the country? A) Excise Department. B) Revenue Department. C) Customs Department. D) State enterprise. Show Answer Correct Answer: B) Revenue Department. 20. "Implementing the budget policy so that revenues are less than expenditures" corresponds to which word? A) Budget Surplus. B) Type of Budget. C) Budget Deficit. D) Balanced Budget. Show Answer Correct Answer: C) Budget Deficit. 21. ..... is defined as fiscal deficit of current year minus interest payments on previous borrowings.a) Fiscal deficitb) Revenue deficitc) Primary deficitd) Budget deficitAnswer:c) Primary deficit A) Revenue deficit. B) Budget deficit. C) Primary deficit. D) Fiscal deficit. Show Answer Correct Answer: C) Primary deficit. 22. The central government budget is presented in Lok sabha by A) Prime minister. B) Finance minister. C) Home minister. D) All the above. Show Answer Correct Answer: B) Finance minister. 23. Financial obligations that the government has in the future that are not recognized in the annual budgetary process. A) Implicit obligation. B) Budget obligation. Show Answer Correct Answer: A) Implicit obligation. 24. A country can borrow money to fill the gap between its expenditures and its income from: A) A-The Public & Other countries. B) A-The IMF. C) A-Only the world bank. D) A and b. Show Answer Correct Answer: D) A and b. 25. 4PS is implemented on what year? A) 2018. B) 2002. C) 2007. D) 2017. Show Answer Correct Answer: C) 2007. 26. An extra amount of money that is paid to a person or organization according to the value of the goods they have sold or the services they have provided A) Commission. B) Bonus. C) Remuneration. D) Perks. Show Answer Correct Answer: A) Commission. 27. Which of the following is an example of a revenue activity of public finance in the Philippines? A) Construction of public schools. B) Payment of salaries to government employees. C) Collection of taxes from individuals and businesses. D) Provision of healthcare services to the public. Show Answer Correct Answer: C) Collection of taxes from individuals and businesses. 28. The finance minister presents the Central budget in the A) Rajya sabha. B) Lok sabha. C) Both a) and b). D) None of these. Show Answer Correct Answer: B) Lok sabha. 29. Which is not a component of government revenue? A) Accrual. B) Income. C) Loan. D) Tax. Show Answer Correct Answer: A) Accrual. 30. Capitation Grant is a compulsary grant given by Federal Government to State Government A) No. B) Yes. Show Answer Correct Answer: B) Yes. ← PreviousNext →Related QuizzesFinance QuizzesPublic Finance Quiz 1Public Finance Quiz 2Public Finance Quiz 4Public Finance Quiz 5Public Finance Quiz 6Public Finance Quiz 7Public Finance Quiz 8Public Finance Quiz 9Public Finance Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books