This quiz works best with JavaScript enabled. Home > Public Finance > Public Finance – Quiz 33 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 33 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Keynes' equation "Y = C + I + G + (X-M)" means government spending. A) C. B) I. C) G. D) X. Show Answer Correct Answer: C) G. 2. Which of the following is an element of monetary policy? A) Interest rates. B) Taxes. C) Transfer payments. D) Public debt. Show Answer Correct Answer: A) Interest rates. 3. Which government agency is responsible for overseeing the public sector in the Philippines? A) Department of Finance. B) Department of Budget and Management. C) Bureau of Treasury. D) Securities and Exchange Commission. Show Answer Correct Answer: B) Department of Budget and Management. 4. Means companionship and friendship. A) Society. B) Socious. C) Sociology. D) Socialization. Show Answer Correct Answer: B) Socious. 5. It is presently understood as one of the dynamic concepts of the modern age which is influencing social as well as economic policy. It is the state furnishes against the risks which as an individual of small means cannot stand up by himself or even in private combination with his fellows. A) Social security. B) Social protection. C) Social assistance. D) Social Insurance. Show Answer Correct Answer: A) Social security. 6. Which of the following is an example of how taxes can promote economic efficiency? A) Using tax revenue to fund infrastructure projects that improve transportation and communication. B) Implementing progressive taxation to reduce income inequality. C) Offering tax incentives to companies that implement sustainable practices. D) All of the above. Show Answer Correct Answer: D) All of the above. 7. ..... is one when the pattern of distribution changes due to the imposition of a new tax or by changing the rates of existing taxation, keeping public expenditure and other budgetary phenomena unchanged. A) Differential tax incidence. B) Specific tax incidence. C) Formal tax incidence. D) Effective tax incidence. Show Answer Correct Answer: B) Specific tax incidence. 8. The type of tax that the initial burden falls on the tax payer is known as ..... tax A) Proportional. B) Progressive. C) Direct. D) Indirect. Show Answer Correct Answer: C) Direct. 9. GAA stands for: A) General Appropriations Art. B) General Appropriation Act. C) General Appropriations Act. D) General Appropriations Art. Show Answer Correct Answer: C) General Appropriations Act. 10. Who dominated the international lending in the 17th Century? A) The Dutch. B) The French. C) The English. D) The Italians. Show Answer Correct Answer: A) The Dutch. 11. A person who receives a the benefit of a good but avoids paying for it. A) FREE TOLL. B) FREE COMMUTE. C) PABUHAT. D) FREE RIDER. Show Answer Correct Answer: D) FREE RIDER. 12. Which agency is responsible for inspecting the spending of various government agencies? A) Comptroller General's Department. B) Bank of Thailand. C) Office of the Auditor General of Thailand. D) Spending Audit Office. Show Answer Correct Answer: C) Office of the Auditor General of Thailand. 13. "The budget expenditures for fiscal year 2000 and fiscal year 2001 increased from the previous fiscal year by 4.2 percent and 5.8 percent, respectively." Which theory corresponds to Chapter 2, Master's thesis work of Professor Phaisan Prabudsuwan? A) Rules for increasing public expenditures. B) Economic theories regarding budgeting. C) Theory of change from the original. D) Model for the development of public expenditure growth. Show Answer Correct Answer: C) Theory of change from the original. 14. Which of the following taxes is levied on the sale of goods and services? A) Excise tax. B) Documentary stamp tax. C) Value-added tax. D) Income tax. Show Answer Correct Answer: C) Value-added tax. 15. The revenue generated by the government through tax and non-tax source is A) Revenue expenditure. B) Tax Revenue. C) Non Tax revenue. D) Revenue Reciepts. Show Answer Correct Answer: D) Revenue Reciepts. 16. Which is not a reason and necessity for establishing a state enterprise? A) Provision of public services. B) Some aspects of business affect life and living conditions. C) Some areas of business may have negative effects on society and health. D) In some areas of business, it is necessary to seek maximum profit. Show Answer Correct Answer: D) In some areas of business, it is necessary to seek maximum profit. 17. The principle of Maximum Social Advantage have been suggested by A) Pigou. B) Dalton. C) Musgrave. D) Adam Smith. Show Answer Correct Answer: B) Dalton. 18. Management of income, expenditure, and debt of an individual is called A) Public finance. B) Private finance. C) Personal finance. D) Corporate finance. Show Answer Correct Answer: C) Personal finance. 19. Adam Smith's statement: "Our lives would be very boring. If a hungry brewer were to seek out a thirsty baker for beer, " what does that say about necessity? A) Production. B) Exchange. C) Distribution. D) Consumption. Show Answer Correct Answer: B) Exchange. 20. It is an estimate of the quantity of products that should be produced in accordance with the sales budget. A) PRODUCTION BUDGET. B) SALES BUDGET. Show Answer Correct Answer: A) PRODUCTION BUDGET. ← 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