This quiz works best with JavaScript enabled. Home > Public Finance > Public Finance – Quiz 18 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 18 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The stabilization function aims to A) Prevent the economy from going through the business cycle. B) Eliminate the business fluctuations. C) Reduce the impact of these business cycle on the economy. D) B and c. Show Answer Correct Answer: D) B and c. 2. It is an institution jointly operated by industrialists, workers, and government. and benefits are allowed to all injured persons irrespective of their status and economic need whereas the benefit of social security is allowed strictly based on need and requirements. A) Social security. B) Social protection. C) Social welfare. D) Social Insurance. Show Answer Correct Answer: D) Social Insurance. 3. When Ed>Es, more incidence is on A) Buyers. B) Sellers. C) Government. D) None of these. Show Answer Correct Answer: B) Sellers. 4. True or FalseIn the era of civic infrastructure, franchises did not have a lot of mobility A) True. B) False. Show Answer Correct Answer: B) False. 5. What is the name of the institution which checks the conformity to the Constitution of the Budget or Interim Budget? A) Supreme Audit Office. B) Constitutional Court (Constitutonal Tribunal). C) Regional Chamber of Auditors. D) None of above. Show Answer Correct Answer: B) Constitutional Court (Constitutonal Tribunal). 6. International monetary policy involves which of the following? A) Balance of payments. B) Loan. C) Government revenue. D) Public expenditure. Show Answer Correct Answer: A) Balance of payments. 7. "True or False" Government budgeting is the critical exercise of allocating revenues and borrowed funds to attain the economic and social goals of the country. A) True. B) False. Show Answer Correct Answer: A) True. 8. OPIF stands for? A) Organizational Performance Indicator Framework. B) Office Performance index framework. C) Office pre-employment interview form. D) Organizational Performance index form. Show Answer Correct Answer: A) Organizational Performance Indicator Framework. 9. What will happen if the General Appropriations Act is not enacted before the start of the new fiscal year? A) The release of the budget will be delayed. B) The previous year's GAA is automatically reenacted. C) The president will solely decide for the allocation of the budget. D) It will be approved in parts and not as a whole. Show Answer Correct Answer: B) The previous year's GAA is automatically reenacted. 10. Time utility is made possible through A) Transportation. B) Processing. C) Storage. D) None of the above. Show Answer Correct Answer: C) Storage. 11. Income distribution A) To distribute income to the majority of people thoroughly and fairly. B) It is the use of tax measures as an important tool. C) Take the income of those with high incomes to help those with low incomes. D) All correct. Show Answer Correct Answer: A) To distribute income to the majority of people thoroughly and fairly. 12. It is the legislative authorization that contains the new appropriations in terms of specific amounts for salaries, wages and other personnel benefits; maintenance and other operating expenses; and capital outlays authorized to be spent for the implementation of various programs/projects and activities of all departments, bureaus and offices of the government for a given year. A) General Appropriations Reform. B) General Appropriations Report. C) General Appropriations Summary. D) General Appropriations Act. Show Answer Correct Answer: D) General Appropriations Act. 13. To argue with sb in order to reach an agreement, especially about the price of sth. A) Haggle. B) Refund. C) Receipt. D) Mortgage. Show Answer Correct Answer: A) Haggle. 14. Which statement most accurately describes weather forecasting as a product? A) Products and services from the state. B) Private goods. C) Public goods. D) Products that are used together. Show Answer Correct Answer: C) Public goods. 15. Which school begins to see that market mechanisms are important but imperfect? A) Neoclassical school. B) Marxist office. C) Keynesian school. D) Classical school. Show Answer Correct Answer: A) Neoclassical school. 16. The three prominent themes of the Union Budget 2020-21 are given below EXCEPT: A) Economic Development for all. B) Aspirational India. C) Caring Society. D) Incredible India. Show Answer Correct Answer: D) Incredible India. 17. Refers to fund obtained from repayable sources, such as loans secured by the government from financial institutions and other sources. A) Government expenditures. B) Private borrowings. C) Public borrowing. D) Private Expenditure. Show Answer Correct Answer: C) Public borrowing. 18. Reserve Bank of India was nationalised on A) 1st January 1947. B) 1st January 1948. C) 1st January 1949. D) 1st January 1960. Show Answer Correct Answer: C) 1st January 1949. 19. Government expenditure consist of A) Transaction expenditure and precautionary exppenditure. B) Public expenditure and private expenditure. C) Operating expenditure and development expenditure. D) Economic expenditure and non-economic expenditure. Show Answer Correct Answer: C) Operating expenditure and development expenditure. 20. The Chancellor of the Exchequer is ..... A) The governor of the Bank of England. B) The UK's Prime Minister. C) The UK's Minister of Finance. D) The UK's Minister of Justice. Show Answer Correct Answer: C) The UK's Minister of Finance. ← 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