This quiz works best with JavaScript enabled. Home > Public Finance > Public Finance – Quiz 16 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 16 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. To put money into the bank A) Spending. B) Withdrawal. C) Deposit. D) Finance. Show Answer Correct Answer: C) Deposit. 2. ..... Deficit gives the amount needed by the government to meet its total resource gap. A) Monetary. B) Fiscal. C) Budget. D) None of above. Show Answer Correct Answer: B) Fiscal. 3. A ..... is created by the government and gradually accumulated every year by setting aside a part of current public revenue in such a way that it would be sufficient to pay off the funded debt at the time of maturity. A) Sinking fund. B) Capital Levy. C) Refunding. D) Redemption. Show Answer Correct Answer: A) Sinking fund. 4. This recognizes and rewards good performance among government employees to help improve the efficiency of service across all government institutions. A) Credit System. B) Performance-Based Incentives. C) Leave Credits. D) Output-Based Allowances. Show Answer Correct Answer: B) Performance-Based Incentives. 5. An income tax is considered to be a/an ..... A) Direct tax. B) Indirect tax. C) Both. D) None of above. Show Answer Correct Answer: A) Direct tax. 6. Which of the following is a negative consequence of inadequate taxation? A) Decreased government corruption. B) Reduced public goods and services. C) Increased economic growth. D) Increased public debt. Show Answer Correct Answer: B) Reduced public goods and services. 7. Developmental expenditure:expenditure on health::non-developmental expenditure: ..... A) War expenditure. B) Expenditure on education. C) Industrial development. D) None of above. Show Answer Correct Answer: A) War expenditure. 8. For the government to perform its various functions such as maintaining law and providing healthcare it need ..... to reap the maximum benefits with the available public wealth. A) The distribution function. B) The stabilization function. C) The allocation function. D) All of the above. Show Answer Correct Answer: C) The allocation function. 9. In this process, the departments and agencies are tasked to partner with civil society organizations as they prepare their budget proposals. A) Veto Message. B) Stakeholder Engagement. C) House Deliberation. D) Bicameral Deliberation. Show Answer Correct Answer: B) Stakeholder Engagement. 10. Which one of the following is wrong about central budjet in India? A) Budget for next financial year is prepared during the current year itself. B) Parliament approves the central budget. C) Prime minister presents the Budget in Loksabha. D) Government should get the approval of parliament to the Budget before 31st of March. Show Answer Correct Answer: C) Prime minister presents the Budget in Loksabha. 11. A tax on certain things that are made, sold, or used within a country? A) Excise tax. B) Personal income tax. C) Payroll taxes (Federal FICA deducted from your check). D) Corporate income taxes. Show Answer Correct Answer: A) Excise tax. 12. The policy interest rate is a part of which policy? A) Fiscal policy. B) Trade policy. C) Monetary policy. D) Tax policy. Show Answer Correct Answer: C) Monetary policy. 13. Is defined as condition in which individuals who exercise power are constrained by external means and by internal norms. It refers to the institution of checks and balances in an organization thru which an administrator accounts for his stewardship of resources or authority. A) Executive. B) Accountability. C) Fiscal Policy. D) Monetary Policy. Show Answer Correct Answer: B) Accountability. 14. Which is not an important actor in the economic flow system? A) Government sector. B) Labor union sector. C) Foreign Affairs Sector. D) Financial institution sector. Show Answer Correct Answer: B) Labor union sector. 15. Which of the following is an example of a transfer payment of public finance in the Philippines? A) Construction of a new bridge. B) Payment of salaries to government employees. C) Conditional cash transfers to poor families. D) Purchase of equipment for a government agency. Show Answer Correct Answer: C) Conditional cash transfers to poor families. 16. Functional Finance concept was introduced by: A) Marx and Angels. B) Keynes and Lerner. C) Dalton and Pigou. D) J.S. Mill. Show Answer Correct Answer: B) Keynes and Lerner. 17. Dalton considers incidence as the ..... of tax on the person who ultimately pays it. A) Indirect money burden. B) Direct money burden. C) Formal tax incidence. D) Effective tax incidence. Show Answer Correct Answer: B) Direct money burden. 18. The revenue generated by the government through taxes and non-tax sources is called A) Capital receipts. B) Revenue receipts. C) Public debit. D) None of the above. Show Answer Correct Answer: B) Revenue receipts. 19. Duties levied on goods produced within the country A) Service tax. B) Excise duties. C) Custom duties. D) Estate duties. Show Answer Correct Answer: B) Excise duties. 20. What government policy is the relief measure for people affected by COVID-19 directly related to? A) Monetary policy. B) Government revenue policy. C) Fiscal policy. D) Government borrowing policy. Show Answer Correct Answer: C) Fiscal policy. ← PreviousNext →Related 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 9Public Finance Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books