This quiz works best with JavaScript enabled. Home > Finance > Public Finance > Public Finance – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 4 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A taxation system where tax rate is the same at all income levels is called ..... tax A) Progressive. B) Constant. C) Proportional. D) Regressive. Show Answer Correct Answer: C) Proportional. 2. The following are the factors of Socialization except one. A) Langauge. B) Suggestion. C) Idenfication. D) Imitation. E) Diversity. Show Answer Correct Answer: E) Diversity. 3. What is the principle that says people who benefit directly from public goods should pay for them in proportion to the amount of benefits received? A) Benefits-Received Principle. B) Tax incentive. C) Ability-to-Pay Principle. D) Incidence of a tax. Show Answer Correct Answer: A) Benefits-Received Principle. 4. What is the purpose of BOT toll stations? A) To pay, upgrade, repair and maintain traffic routes. B) To collect money to serve activities for the Ministry of Transport. C) To raise awareness of traffic participants in traveling on that route. D) To improve the transportation system. Show Answer Correct Answer: A) To pay, upgrade, repair and maintain traffic routes. 5. ..... is an amount of money that is given back to you if you are not satisfied with the goods or services that you have paid for A) Tax rebate. B) Refund. C) Discount. D) Receipt. Show Answer Correct Answer: B) Refund. 6. Which of the following is NOT an objective of the FRBM Act 2003? A) To reduce the burden of debt repayment. B) To improve transparency in fiscal operations. C) To bring zero deficit. D) To reduce corruption. Show Answer Correct Answer: D) To reduce corruption. 7. Find odd word out: A) Fines and penalties. B) Registration fees. C) Education fees. D) Administration fees. Show Answer Correct Answer: A) Fines and penalties. 8. Which of the following is a reason why taxation is relevant to political stability? A) It promotes government corruption. B) It reduces government accountability. C) It provides a source of government revenues for public goods and services. D) It increases economic inequality. Show Answer Correct Answer: C) It provides a source of government revenues for public goods and services. 9. Anything that is purchased with the hope that it will generate income or be more valuable at a future date. A) Income. B) Loan. C) Expense. D) Investment. Show Answer Correct Answer: D) Investment. 10. ..... taxes are generally not shifted and are paid in lump sum for the whole year. A) Direct tax. B) Indirect tax. Show Answer Correct Answer: A) Direct tax. 11. Who pays payroll tax ..... A) Person who works at Burger King. B) Person who works at Starbucks. C) All of the choice. D) Person who works at Bank of America. Show Answer Correct Answer: C) All of the choice. 12. If the average utility for consuming Pepsi is 5O utils and a consumer consumes 2 bottles, what is his total utility? A) 100. B) 52. C) 25. D) 15. Show Answer Correct Answer: A) 100. 13. Multinational firms or industries that deplete a lot of mineral resources in a country pay ..... to the government. A) Tolls. B) Taxes. C) Royalties. D) Licences. Show Answer Correct Answer: C) Royalties. 14. It represents marketing, general, and administrative expenses. Examples are advertising, salaries and wages. A) Operating Expenses. B) Other Expenses. Show Answer Correct Answer: B) Other Expenses. 15. It is the scheme and convergence strategy of the State to help the poor and vulnerable access different kinds of benefits. A) Social security. B) Social welfare. C) Social Insurance. D) Social assistance. Show Answer Correct Answer: B) Social welfare. 16. Budget is the financial statement showing the expected incomeand expenditure of the individual during a financial year. A) True. B) False. Show Answer Correct Answer: B) False. 17. Short-term debt (Short-term Loan) refers to debt that has a time period for redemption. In how much time? A) Not more than 1 year. B) Not more than 2 years. C) Not more than 3 months. D) Not more than 6 months. Show Answer Correct Answer: A) Not more than 1 year. 18. Industries operating in the public sector contribute immensely to the country's economy by providing employment to many people and generating revenues. A budget helps the government focus appropriately on companies in the public sector by introducing policies to aid their growth. A) Proper resource pool allocation. B) Administering Operation of PSUs. C) Growth of business and trading. D) Mitigating economic divide. Show Answer Correct Answer: B) Administering Operation of PSUs. 19. If the tax rate increases with the higher level of income, it shall be called A) Proportional Tax. B) Regressive Tax. C) Progressive Tax. D) Lump sum Tax. Show Answer Correct Answer: C) Progressive Tax. 20. Which school of economics considers public debt to be necessary? A) Classical school. B) Keynesian school. C) Neoclassical school. D) Marxist office. Show Answer Correct Answer: B) Keynesian school. 21. A rational consumer would be willing to pay ..... as his consumption of a commodity increases. A) More. B) Less. C) Less and later pay more. D) None of the above. Show Answer Correct Answer: B) Less. 22. M = mB corresponds to which of the following? A) Turnover rate. B) Money supply. C) Increase in the money supply. D) Money base. Show Answer Correct Answer: D) Money base. 23. What are transfer payments? A) They provide the way for a government to change the overall distribution of income in the economy. B) Refers to spendings on goods and services that are provided on a regular basis. C) Refers to infrastructure spendings. D) None of above. Show Answer Correct Answer: A) They provide the way for a government to change the overall distribution of income in the economy. 24. X = change in TU/Change in quantity. The value of X here is A) Marginal utility. B) Average utility. C) Total utility. D) Form utility. Show Answer Correct Answer: A) Marginal utility. 25. Is a conditional cash transfer program for impoverished households. The program gives households grants so long as they meet certain requirements, including keeping the children in school, having regular health check-ups and having parents or guardians attend Family Development Sessions. A) Pantawid Pamilyang Pinoy Program. B) Pantawid Pamilyang Maka Pilipino Program. C) Pag-unsad Pamilyang Pilipino Program. D) Pantawid Pamilyang Pilipino Program. Show Answer Correct Answer: D) Pantawid Pamilyang Pilipino Program. 26. It is the source of financing for the project is discussed in this portion A) TAXATION STUDY. B) FINANCING STUDY. Show Answer Correct Answer: B) FINANCING STUDY. 27. Which government agency is responsible for regulating the energy sector in the Philippines? A) Department of Energy. B) Energy Regulatory Commission. C) Department of Trade and Industry. D) Philippine Competition Commission. Show Answer Correct Answer: B) Energy Regulatory Commission. 28. Which of the following taxes is a new tax that was recently enacted in 2019? A) School and land taxes. B) Land and building taxes. C) Local maintenance tax. D) Sign tax. Show Answer Correct Answer: B) Land and building taxes. 29. It is defined as an estimate of income and expenditures for a future period. A) Budget. B) Sales Budget. Show Answer Correct Answer: A) Budget. 30. Which of these is not included as the canons of taxation? A) Economy. B) Compactibility. C) Simplicity. D) Equity. Show Answer Correct Answer: B) Compactibility. ← PreviousNext →Related QuizzesFinance QuizzesPublic Finance Quiz 1Public Finance Quiz 2Public Finance Quiz 3Public 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