This quiz works best with JavaScript enabled. Home > Public Economics > Public Economics – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Economics Quiz 2 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Large stocks of fish in the great lakes represent A) Nonrenewable natural capital. B) Renewable natural capital. C) Intangible capital. D) Produced capit. Show Answer Correct Answer: B) Renewable natural capital. 2. Which of the following are characteristics of public goods? A) Rivalry dan excludable. B) Non-rivalry dan excludable. C) Non-rivalry dan non-excludable. D) Rivalry dan non-excludable. E) Paid and Limited quantity. Show Answer Correct Answer: C) Non-rivalry dan non-excludable. 3. A transfer payment is one in which the government A) Directly purchases goods and services. B) Provides states or local governments with money for things like education, infrastructure, etc. C) Loans given to foreign countries for a variety of reasons. D) Money given to people that do not provide goods or services, such as Social Security checks. Show Answer Correct Answer: D) Money given to people that do not provide goods or services, such as Social Security checks. 4. How many principles of project evaluation according to CBA method? A) 2. B) 3. C) 4. D) 5. Show Answer Correct Answer: A) 2. 5. Which of the following is a Central Govt Tax? A) Land Tax. B) * Property tax. C) * Personal Income Tax. D) Professional Tax. Show Answer Correct Answer: C) * Personal Income Tax. 6. A percentage of money taken from individuals or businesses is referred to as A) Property tax. B) Excise tax. C) Income tax. D) Sales tax. Show Answer Correct Answer: C) Income tax. 7. A shared good and service for which would be impractical to make consumers pay individually and to exclude nonpayers. A) Externality. B) Public sector. C) Public good. D) Private sector. Show Answer Correct Answer: C) Public good. 8. Most governments are likely to pay for public goods and services through- A) Donations from wealthy politicians. B) Donations from abroad. C) Revenue from sales and income taxes. D) Borrowings from abroad. Show Answer Correct Answer: C) Revenue from sales and income taxes. 9. Which one of the following tax is collected by Local Self Governments? A) Professional Tax. B) Corporate tax. C) GST. D) Stamp duty. Show Answer Correct Answer: A) Professional Tax. 10. The part of the economy that involves the transactions of individuals and businesses. A) Public sector. B) Externality. C) Private sector. D) Public good. Show Answer Correct Answer: C) Private sector. 11. Goods and Services Tax (GST) wasintroduced in India on ..... A) 21st July 2017. B) 1st June 2017. C) 1st July 2017. D) 21st may 2018. Show Answer Correct Answer: C) 1st July 2017. 12. The World Trade Organization A) Mainly regulates the use of global environmental resources. B) Guards human rights and the environmental resources of the world. C) Is widely recognized as the leader of global trade regulation. D) Has steadily lost the power to regulate international trade. Show Answer Correct Answer: D) Has steadily lost the power to regulate international trade. 13. Revenue is the money that the government brings in for use on government expenditures. The term used to define the source of revenue is A) Tax base. B) Revenue base. C) Money base. D) Money stream. Show Answer Correct Answer: A) Tax base. 14. Sustainable development and the protection of public health require A) The generation of electricity from fossil fuels. B) Governments to recognize personal liberties as the highest priority. C) The independence of private landowners to develop individual policies. D) Public policies that protect the environment. Show Answer Correct Answer: D) Public policies that protect the environment. 15. A market is expected to have no distortion at all. What is this market called? A) Night market. B) Morning market. C) Goods market. D) Efficient market. E) Free market. Show Answer Correct Answer: D) Efficient market. 16. The fiscal year for the US government runs A) January-December. B) February-January. C) October-September. D) July-June. Show Answer Correct Answer: C) October-September. 17. Which following answer is A) Needs a common measurement unit. B) Analysis of a project should not include a comparison. C) It is important to avoid double counting benefits and costs. D) The benefits are often judged by market choice. Show Answer Correct Answer: B) Analysis of a project should not include a comparison. 18. Which of the following is a method of providing public goods and services? A) The State only provides finance and the State does not organize public provision goods and services. B) The private sector is not financed and the private sector must organize itself. C) The state and the private sector work together to finance and provide public goods and services. D) None of above. Show Answer Correct Answer: C) The state and the private sector work together to finance and provide public goods and services. 19. The United States government provides the following services EXCEPT- A) Interstate highways. B) Satellite radio. C) Postal service. D) National defense. Show Answer Correct Answer: B) Satellite radio. 20. A tax that takes a higher percentage of money from higher incomes is what type of tax? A) Sales tax. B) Progressive tax. C) Proportional tax. D) Regressive tax. Show Answer Correct Answer: B) Progressive tax. ← PreviousNext →Related QuizzesPublic Economics Quiz 1Public Economics Quiz 3Public Economics Quiz 4 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books