This quiz works best with JavaScript enabled. Home > Public Finance > Public Finance – Quiz 36 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 36 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. " Public finance is concerned with the income and expenditure of public authorities with the adjestment of one to another" . was said by A) Dalton. B) Collin Clark. C) Amarthyasen. D) Maier and Baldwin. Show Answer Correct Answer: A) Dalton. 2. ..... taxes are generally paid in lump sum for the whole year. A) Direct tax. B) Indirect tax. Show Answer Correct Answer: A) Direct tax. 3. Which of the following is an example of an entitlement program? A) Social security. B) Infrastructure spending. C) Military spending. D) Debt servicing. Show Answer Correct Answer: A) Social security. 4. This phase starts with a budget call and ends with president's submission of the proposed budget to Congress. A) Budget Execution and Control. B) Accountability. C) Budget Preparation. D) Budget Authoriation or Legislation. Show Answer Correct Answer: C) Budget Preparation. 5. Which is not a duty of the Central Bank/Bank of Thailand? A) Is the issuer of cash bills payable to the government. B) Become a government banker. C) It controls the money supply. D) It is the lender of last resort to commercial banks. Show Answer Correct Answer: A) Is the issuer of cash bills payable to the government. 6. Charged Expenditure is an expenditure that requires approval by the Parliament A) Yes. B) No. Show Answer Correct Answer: B) No. 7. Which of the following is a way that taxation can contribute to social welfare? A) By reducing access to healthcare. B) By reducing access to education. C) By providing social safety net programs. D) By increasing economic inequality. Show Answer Correct Answer: C) By providing social safety net programs. 8. "Products that count the value of final goods and services only where the resources of the people of that country are used in their production, regardless of where in the world the people of that country are located or the income of the people of that country. Make income both domestically and abroad." Which of the following words is correct? A) GNP. B) Real GNP. C) Real GDP. D) GDP. Show Answer Correct Answer: A) GNP. 9. Who ultimately bears the financial burden of the coal tax in Montana? A) Consumer of electricity in Colorado. B) Montana coal miners. C) Electrical company who buys the coal. D) None of above. Show Answer Correct Answer: A) Consumer of electricity in Colorado. 10. Government income comes from many sources. But which one is not? A) Revenue from tax collection. B) Income from issuing treasury bills. C) State commercial income. D) Income from the sale of goods and services. Show Answer Correct Answer: B) Income from issuing treasury bills. 11. Principle of equilibrium A) Parliament's budget work is open and apparent. B) Making only one budget containing all expenditures and revenues, not more documents. C) Trying to balance with budget in that way, that expenditures are equal with revenues. D) Including all expenditures and revenues, not only selected ones. Show Answer Correct Answer: C) Trying to balance with budget in that way, that expenditures are equal with revenues. 12. To owe money to your bank because you have spent more than you have in your account A) To be in the black. B) To be in the red. C) Mortgage. D) To be an idiot. Show Answer Correct Answer: B) To be in the red. 13. Which of these is not included as an aspect of capital expenditure? A) Salaries. B) Road construction. C) Bridge projects. D) Railway projects. Show Answer Correct Answer: A) Salaries. 14. Which of the following is an example of a tax incentive? A) Property tax deduction. B) Sales tax increase. C) Income tax rate increase. D) Excise tax reduction. Show Answer Correct Answer: A) Property tax deduction. 15. The standard interest rate corresponds to which of the following? A) Interbank rate. B) Deposit rate. C) Reference rate. D) Bank rate. Show Answer Correct Answer: D) Bank rate. 16. Foreign currency burden is an ..... money Burden. A) Indirect. B) Direct. Show Answer Correct Answer: A) Indirect. 17. The current national debt ..... A) Has gone down in recent years. B) Increased dramatically. C) Stabled off. D) None of above. Show Answer Correct Answer: B) Increased dramatically. 18. There are three types of tax rate structures, which one is not? A) Progressive tax rate. B) Proportional tax rate. C) Regressive tax rate. D) Balanced tax rate. Show Answer Correct Answer: D) Balanced tax rate. 19. In India GST is introduced with effect from A) 1st Jan 2017. B) 1st July 2018. C) 1st July 2017. D) 1st Jan 2018. Show Answer Correct Answer: C) 1st July 2017. 20. Capital Budgeting should provide information to assist users in assessing the service efforts, costs, and accomplishments of the governmental entity A) TRUE. B) FALSE. Show Answer Correct Answer: B) FALSE. ← 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