This quiz works best with JavaScript enabled. Home > Public Finance > Public Finance – Quiz 45 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 45 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. We took out a 30-year ..... to buy our house. A) Income. B) Mortgage. C) Refund. D) Fare. Show Answer Correct Answer: B) Mortgage. 2. States' social security systems should provide for the coverage of the following nine principal branches:health care; sickness; old age; unemployment; employment injury; family and child support; maternity; disability; and survivors and orphans. A) Availability. B) Social risks and contingencies. C) Adequacy. D) Accessibility. Show Answer Correct Answer: B) Social risks and contingencies. 3. Which of the following definitions most closely matches this? "Cash or cash equivalents available to the government for expenditures in government operations. It is the remaining revenue from spending that the government collects at each moment." A) Treasury. B) Accumulated remaining money. C) Reserve fund. D) Government money. Show Answer Correct Answer: A) Treasury. 4. A rational consumer aims at A) Maximizing profit. B) Enjoying himself. C) Maximizing utility. D) Increasing output. Show Answer Correct Answer: C) Maximizing utility. 5. Capital receipts is that receipts of the Government- A) Creats a liability. B) Reduce the assets. C) Both (1) and (2). D) None. Show Answer Correct Answer: C) Both (1) and (2). 6. If the manufacturer cannot bear the burden of higher costs. It will cause manufacturers to adjust the prices of goods and services higher as well. This characteristic is most consistent with which of the following ideas? A) Demand-Pull Inflation. B) Supply-Pull Inflation. C) Supply-Push Inflation. D) Cost-Push Inflation. Show Answer Correct Answer: D) Cost-Push Inflation. 7. What type of product is cable television? A) Member only products. B) Private goods. C) Public goods. D) Semi-private, semi-public goods. Show Answer Correct Answer: A) Member only products. 8. Which of the following is a component of government debt? A) Public savingspayments. B) Budget deficit. C) Tax revenues. D) Transfer. Show Answer Correct Answer: B) Budget deficit. 9. In india, we have zero base budgeting A) True. B) False. Show Answer Correct Answer: A) True. 10. In the past 50 years, the federal government ..... A) Has increased spending at the local level. B) Has decreased the amount of funds sent to the States. C) Has continued to not assist States. D) None of above. Show Answer Correct Answer: A) Has increased spending at the local level. 11. A common way of arriving at the PREXC structure is to group existing PAPs under Programs, True or False? A) True. B) False. Show Answer Correct Answer: A) True. 12. Compulsory contribution mandated by law and exacted by government for public purpose. A) VAT. B) Tax. C) Tax Revenue. D) Direct Tax. Show Answer Correct Answer: B) Tax. 13. Annual budget A) The government will estimate income-expenses for the following year in advance. B) The government will estimate the income-expenses of the previous year combined with the current year. C) The government will determine the next year's income and expenses in advance. D) The government will determine the income-expenses of the previous year combined with the current year. Show Answer Correct Answer: A) The government will estimate income-expenses for the following year in advance. 14. How many basic principles are there which guide government in financial operations? A) Three. B) Four. C) Five. D) Six. Show Answer Correct Answer: A) Three. 15. Money that you pay for professional advice or services A) Fare. B) Fee. C) Free. D) Bulk. Show Answer Correct Answer: B) Fee. 16. Consumers who buy the taxed products are paying what taxes? A) Sales taxes. B) Excises taxes. C) Tax incidence. D) Value-added taxes. Show Answer Correct Answer: A) Sales taxes. 17. Which of the following is not a thinker in the classical school? A) Jean Baptiste Say. B) David Ricardo. C) Joan Robinson. D) Adam Smith. Show Answer Correct Answer: C) Joan Robinson. 18. "Build, Build, Build" infrastructure plan in what year? A) 2016. B) 2017. C) 2021. D) 2022. Show Answer Correct Answer: B) 2017. 19. Public Authorities includes A) Central government. B) State government. C) Local government. D) All of these. Show Answer Correct Answer: D) All of these. 20. Government spending, in excess of revenue (or spending more than money bringing in) is called A) Deficit spending. B) Profit. C) Both are correct. D) Neither is correct. Show Answer Correct Answer: A) Deficit spending. ← 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