11th Principles of Economics MCQS Chapter 13

Kinds of public expenditures are

Four

Two

Three

Five

If everybody pays tax according to his financial position, it is said

canon of convenience

canon of Equality

canon of simplicity

canon of Economy

At last, indirect tax is paid by

Shopkeeper

Entrepreneur

Whole-seller

Customer

Which one of the following stated the canons of taxation first

Robbins

Adam Smith

Keynes

Marshall

Government needs public finance

To maintain law and order in the country

For the welfare of the people

For the defence of frontiers

For the payment of salaries of government employees

Private individuals can get loan from

International financial institutions

Foreign government

Their relatives, friends and domestic financial institutions

Foreign financial agencies

Public finance deals with governments revenue and expenditure and it studies how government maintains balance between its revenue and expenditures
This definition is stead by

Bastable

Armitage Smith

pigou

Dalton

If income of government is more than its expenditures, then it is a

Deficit budget

Surplus budget

Development budget

Balanced budget

The budget period in public finance is

five years

six months

two years

one year

One of the following is not included in the public expenditures

Courts

Defence

Public administration

Fee