This quiz works best with JavaScript enabled. Home > Public Finance > Public Finance – Quiz 40 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 40 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Deficit budget refers to that situation in which governments budget expenditure is- A) Less than its budget receipts. B) More than its budget receipts. C) Equal its budget receipts. D) None of these. Show Answer Correct Answer: B) More than its budget receipts. 2. In which budget scenario will a government have the opportunity to save? A) Deficit. B) Surplus. C) Balanced. D) Zero. Show Answer Correct Answer: B) Surplus. 3. Cohesion principle 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: B) Making only one budget containing all expenditures and revenues, not more documents. 4. One of the objective of 4PS wherein to break the intergenerational cycle of poverty through investments in human capital (nutrition, health and education A) Social Development. B) Social Welfare. C) Social Desirability. D) Social Assistance. Show Answer Correct Answer: A) Social Development. 5. Which of the following is a finance role of public finance? A) Allocation of resources. B) Maximization of profit. C) Creation of market competition. D) All of the above. Show Answer Correct Answer: A) Allocation of resources. 6. The first official government bond issued by a national government was in: A) England. B) The Netherlands. C) Spain. D) France. Show Answer Correct Answer: A) England. 7. Last year I made $ 40, 000 by working ..... home. A) On. B) At. C) From. D) In. Show Answer Correct Answer: C) From. 8. The organization of local government administration in Thailand is consistent with what principles of the exercise of power? A) Principles of authorization. B) Principles of division of power. C) Principles of power allocation. D) Principles of decentralization. Show Answer Correct Answer: D) Principles of decentralization. 9. The state with the highest sales tax is ..... A) California. B) Minnesota. C) Alaska. D) None of above. Show Answer Correct Answer: A) California. 10. DBM stands for? A) Decibel per milliwat. B) Department of Budget and Management. C) Database management. D) Don't Bother Me. Show Answer Correct Answer: B) Department of Budget and Management. 11. What is PNEP stands for? A) Philippine National Expenditure Program. B) Philippine National Evaluation Policy. C) Philippine Net Expenditure Program. D) Philippine National Expenditure Plan. Show Answer Correct Answer: B) Philippine National Evaluation Policy. 12. Wagner's Law is related to: A) Public revenue. B) Public expenditure. C) Public debt. D) Budget. Show Answer Correct Answer: B) Public expenditure. 13. Which is not an important goal in the economy? A) Economic stability. B) Economic equality. C) Economic growth. D) Economic stability. Show Answer Correct Answer: A) Economic stability. 14. Tax paid in lieu of military service in England: A) Tallage. B) Carucage. C) Scutage. D) Socage. Show Answer Correct Answer: C) Scutage. 15. Which statement is incorrect regarding people who benefit from the weak baht? A) Those in debt with foreign countries have an increased burden. Because they use a lot of baht to pay off foreign currency debts. B) Importers reduce the cost of importing products. C) It is becoming more expensive for people to buy goods and services from abroad. D) Investors import more expensive capital goods such as machinery and various equipment. Show Answer Correct Answer: B) Importers reduce the cost of importing products. 16. Which of the following is a form of direct tax in the Philippines? A) Excise tax. B) Documentary stamp tax. C) Estate tax. D) Donor's tax. Show Answer Correct Answer: A) Excise tax. 17. What law did Pres. Duterte in March 2019 approved, which states that the law liberalized rice imports and allowed private parties to ship in the grain in exchange for a 35% tariff for rice originating from other ASEAN countries. A) Rice Trafficking Law. B) Rice Tariffication Law. C) Rice Grant Law. D) Rice Subsidy Law. Show Answer Correct Answer: B) Rice Tariffication Law. 18. Which of the following is a difference between public finance and private finance? A) Public finance is concerned with profit maximization, while private finance is concerned with public welfare. B) Public finance is government-driven, while private finance is market-driven. C) Public finance involves only government entities, while private finance involves only private entities. D) Public finance is primarily concerned with the stock market, while private finance is concerned with bond markets. Show Answer Correct Answer: B) Public finance is government-driven, while private finance is market-driven. 19. It is the major responsibility of the government to provide an economic environment that assures open market competition, economic growth, price stability, full employment and national development. A) Development. B) Allocation. C) Stabilization. D) Distribution. Show Answer Correct Answer: C) Stabilization. 20. WHICH ONE IS EXAMPLE OF INPUT IN PREPARING BUDGET FOR EDUCATIONAL SECTOR A) NUMBERS OF STUDENTS GRADUATE. B) NUMBERS OF EMPLOYABILITY. C) NUMBERS OF NEW LECTURES BUILDING. D) NUMBERS OF UNSUCCESSFUL STUDENTS . Show Answer Correct Answer: C) NUMBERS OF NEW LECTURES BUILDING. ← 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