This quiz works best with JavaScript enabled. Home > Public Finance > Public Finance – Quiz 28 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 28 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Monitor the budget through a defined performance framework. A) True. B) False. Show Answer Correct Answer: A) True. 2. The Chairman of the Public Accounts Committee of the Parliament is appointed by A) Speaker of Lok Sabha. B) Prime Minister of India. C) President of India. D) Chairman of Rajya Sabha. Show Answer Correct Answer: A) Speaker of Lok Sabha. 3. Monetized deficit or ....., is the difference between the face value of money and the cost to produce it. A) Budget deficit. B) Fiscal deficit. C) Seigniorage. D) Revenue deficit. Show Answer Correct Answer: C) Seigniorage. 4. If the expenditure is more than the revenue, it is called as A) Balanced budget. B) Surplus budget. C) Deficit budget. D) Financial budget. Show Answer Correct Answer: C) Deficit budget. 5. The law specifies that from fiscal year 2007 onwards, local administrative organizations shall have income calculated as net government income of not less than what percentage? A) 20 percent. B) 25 percent. C) 30 percent. D) 35 percent. Show Answer Correct Answer: B) 25 percent. 6. All of the following are criticisms against the FRBM Act except: A) Unfulfilled targets. B) Defective assumptions. C) High levels of capital expenditure. D) Neglect of equity and economic growth. Show Answer Correct Answer: C) High levels of capital expenditure. 7. Which thinker has proposed a concrete solution to the problems of economic downturn and unemployment? A) John Menard Keynes. B) Adam Smith. C) John Stewart Mill. D) Alfred Marshall. Show Answer Correct Answer: A) John Menard Keynes. 8. How does Treasury borrow money A) Issuing bonds. B) Selling Treasury security. C) Borrowing money directly. D) All answers. Show Answer Correct Answer: D) All answers. 9. The condition for consumer equilibrium is A) Marginal utility is = Average utility. B) Total utility = unit price. C) Marginal utility = unit price. D) None of the above. Show Answer Correct Answer: C) Marginal utility = unit price. 10. Which state enterprises generated the most profits in 2019? A) PTT. B) Krung Thai Bank. C) Provincial Electricity Authority. D) Thai airport. Show Answer Correct Answer: A) PTT. 11. Which of the following is a component of tax policy? A) Tax rates. B) Public goods. C) Transfer payments. D) Monetary policy. Show Answer Correct Answer: A) Tax rates. 12. 5-in fiscal policy..... A) Set by central bank. B) Target inflation. C) Side effect on government budget. D) Change in money supply. Show Answer Correct Answer: C) Side effect on government budget. 13. Public finance is "concerned with the income and expenditure of public authorities and with the adjustment of one to the other" said by A) Dante. B) Marshal. C) Damon. D) Dalton. Show Answer Correct Answer: D) Dalton. 14. Explain fiscal transparency A) A way in which a government adjusts its spending levels (and tax rates) to oversee and influence a nation's economy. B) The publication of information regarding how governments raise, spend and manage public resources. Show Answer Correct Answer: B) The publication of information regarding how governments raise, spend and manage public resources. 15. A government budget is said to be a deficit budget if the estimated government expenditure exceeds the expected government revenue in a particular financial year. A) Balanced Budget. B) Surplus Budget. C) Deficit Budget. D) Imbalanced Budget. Show Answer Correct Answer: C) Deficit Budget. 16. The state of being extremely poor. A) Corruption. B) Tax Evader. C) Poverty. D) Politician. Show Answer Correct Answer: C) Poverty. 17. According to Musgrave the major functions of public finance is: A) Allocative function. B) Distributive function. C) Stabilisation function. D) All the above. Show Answer Correct Answer: D) All the above. 18. The importance of the budget A) To promote world economic development in order to maintain stability. B) To promote the economic development of the country in order to maintain stability. C) To promote economic development of the OPEC and ASEAN groups in order to maintain the value of the currency. D) To promote the economic development of each region in order to preserve the treasury. Show Answer Correct Answer: B) To promote the economic development of the country in order to maintain stability. 19. MFO in budgeting stands for? A) Major final output. B) Multiple organ failure. C) Motor vehicle loan. D) Mode of Financing. Show Answer Correct Answer: A) Major final output. 20. Which school of thought stands contrary to Say's Law that supply creates demand? A) Classical school. B) Neoclassical school. C) Keynesian school. D) Marxist office. Show Answer Correct Answer: C) Keynesian school. ← 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