Question 1

External debts can be raised from ...........&#10;A)individuals&#10;B)rbi&#10;C)commercial banks&#10;D)world bank

Accepted Answer

External debts are typically raised from international financial institutions like the World Bank, which provide loans to countries.

Question 2

Debts that are repaid at some specific future date are known as&#10;A)redeemable debts&#10;B)irredeemable debts&#10;C)treasury bill&#10;D)none of the above

Accepted Answer

Redeemable debts are those that have a specific maturity date on which the principal amount is due to be repaid.

Question 3

External loans are raised from&#10;A)idbi&#10;B)icici&#10;C)rbi&#10;D)wto

Accepted Answer

External loans are typically raised from international organizations or foreign entities, and the World Trade Organization (WTO) is an international body that can be involved in such financial arrangements.

Question 4

The concept of Merit goods was developed by ................&#10;A)musgrave&#10;B)marshall&#10;C)adam smith&#10;D)zak

Accepted Answer

The concept of Merit goods was developed by Richard Musgrave to describe goods that governments should provide or subsidize because they generate benefits that may not be fully recognized or valued by consumers, leading to under-consumption if left to the market.

Question 5

Non-rival consumption is the feature of ..............&#10;A)public good&#10;B)private good&#10;C)merit good&#10;D)necessary good

Accepted Answer

Non-rival consumption means that one person's consumption of a good does not reduce the amount available for others to consume. This is a characteristic of public goods.

Question 6

The theory of second best was introduced by ...............&#10;A)lipse and lancester&#10;B)allen and hicks&#10;C)samuelson and hicks&#10;D)horrod and dommor

Accepted Answer

The theory of second best was introduced by Lipsey and Lancaster, not by the names listed in the other options. This theory suggests that if one optimality condition in an economic model cannot be satisfied, then an optimal outcome may require that other optimality conditions are not satisfied either.

Question 7

Wagner's Law of increasing ............ activities.&#10;A)central&#10;B)state&#10;C)local&#10;D)one of these

Accepted Answer

The answer of Wagner's Law of increasing ............ activities.&#10;A)central&#10;B)state&#10;C)local&#10;D)one of...

Question 8

Wiseman-Peacock was studied expenditure of .............. in 1890-1955.&#10;A)ussr&#10;B)usa&#10;C)uk&#10;D)none of these

Accepted Answer

The Wiseman-Peacock study focused on the expenditure patterns of the United Kingdom (UK) during the period from 1890 to 1955.

Question 9

Pure theory of public expenditure is based on ..............&#10;A)benefit&#10;B)loss&#10;C)profit&#10;D)none of these

Accepted Answer

The pure theory of public expenditure is based on the principle of benefit, where the allocation of resources and the distribution of the costs of public goods and services are related to the benefits received by individuals or groups.

Question 10

Social marginal productivity criteria was developed by ...........&#10;A)malthus&#10;B)a. e. khan&#10;C)a. k. sen&#10;D)none of these

Accepted Answer

A. E. Khan developed the social marginal productivity criteria, which is used in the context of evaluating the social benefits of investment projects.

Question 11

Balanced budget means ................ between revenue and expenditure.&#10;A)balance&#10;B)unbalance&#10;C)unequal&#10;D)none of these

Accepted Answer

The answer of Balanced budget means ................ between revenue and...

Question 12

................... budget concept was first introduced in USA in 1964.&#10;A)zero-base&#10;B)no zero-base&#10;C)surplus base&#10;D)none of these

Accepted Answer

The answer of ................... budget concept was first introduced in...

Question 13

Public debt is the debt owed by ................&#10;A)industry&#10;B)individual&#10;C)central government&#10;D)bank

Accepted Answer

The answer of Public debt is the debt owed by...

Question 14

In a concept of budgetary deficit, ............... is always greater than the total revenue.&#10;A)public expenditure&#10;B)taxes amount&#10;C)money supply&#10;D)crr

Accepted Answer

The answer of In a concept of budgetary deficit, ..................

Question 15

............ tax is in the jurisdiction of the Central government.&#10;A)land revenue&#10;B)corporation tax&#10;C)excise on alcohol&#10;D)tax on electricity consumption

Accepted Answer

The answer of ............ tax is in the jurisdiction of...

Question 16

In internal debt ................ are important.&#10;A)external loans&#10;B)market loans&#10;C)personal loans&#10;D)none of these

Accepted Answer

The answer of In internal debt ................ are important.&#10;A)external loans&#10;B)market...

Question 17

Public debt in Indian Economy is .................... in nature.&#10;A)increasing&#10;B)decreasing&#10;C)constant&#10;D)none of these

Accepted Answer

The answer of Public debt in Indian Economy is .......................

Question 18

Fiscal Crisis was carried in ................. period.&#10;A)planning&#10;B)new economic policy&#10;C)before indpendence&#10;D)none of these

Accepted Answer

The answer of Fiscal Crisis was carried in ................. period.&#10;A)planning&#10;B)new...

Question 19

Which of the following is a Revenue Receipt?&#10;A)loan from the imf&#10;B)grant received from the world bank&#10;C)borrowing from the public&#10;D)sale of the shares held by the government in hmt

Accepted Answer

The answer of Which of the following is a Revenue...

Question 20

Which of the following is a Capital Receipt?&#10;A)profit tax&#10;B)railway ticket fare&#10;C)fee of the government hospital&#10;D)borrowing from the public

Accepted Answer

The answer of Which of the following is a Capital...

Question 21

Which one of the following is not the form of Tax Revenue?&#10;A)income tax&#10;B)sales tax&#10;C)license fee&#10;D)excise duty

Accepted Answer

The answer of Which one of the following is not...

Question 22

Identify the Capital Receipts&#10;A)penalty&#10;B)corporation tax&#10;C)dividends on investments made by the government&#10;D)sale of a public sector undertaking

Accepted Answer

The answer of Identify the Capital Receipts&#10;A)penalty&#10;B)corporation tax&#10;C)dividends on investments...

Question 23

Existence of Centre State economic inequalities is known as&#10;A)vertical imbalance&#10;B)horizontal imbalance&#10;C)parallel imbalance&#10;D)none of these

Accepted Answer

The answer of Existence of Centre State economic inequalities is...

Question 24

A multilevel decentralized fiscal system involving sharing of fiscal responsibilities between central, state and local governments is referred to as:&#10;A)fiscal union&#10;B)fiscal federalism&#10;C)fiscal equalisation&#10;D)fiscal generalism

Accepted Answer

The answer of A multilevel decentralized fiscal system involving sharing...

Deck 3: Public Finance and Economic Concepts and Terms