Fiscal Economics Model Question Paper

12th Standard EM

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Economics

Time : 02:00:00 Hrs
Total Marks : 50
    10 x 1 = 10
  1. The modern state is

    (a)

    Laissez-faire state

    (b)

    Aristocratic state

    (c)

    Welfare state

    (d)

    Police state

  2. GST is equivalence of

    (a)

    Sales tax

    (b)

    Corporation tax

    (c)

    Income tax

    (d)

    Local tax

  3. The direct tax has the following merits except

    (a)

    equity

    (b)

    convenient

    (c)

    certainty

    (d)

    civic consciousness

  4. "Revenue Receipts" of the Government do not include

    (a)

    Interest

    (b)

    Profits and dividents

    (c)

    Recoveries and loans

    (d)

    Rent from property

  5. The primary purpose of deficit financing is

    (a)

    Economic development

    (b)

    Economic stability

    (c)

    Economic equality

    (d)

    Employment generation

  6. The word budget has been derived from the French word "bougette" which means

    (a)

    A small bag

    (b)

    An empty box

    (c)

    A box with papers

    (d)

    None of the above

  7. Finance Commission determines

    (a)

    The finances of Government ofIndia

    (b)

    The resources transfer to the states

    (c)

    The resources transfer to the various departments

    (d)

    None of the above

  8. Bougett refers to a _________

    (a)

    bag

    (b)

    a small purse

    (c)

    a small leather bag

    (d)

    a small box

  9. Sale within the states are _________

    (a)

    IGST

    (b)

    CGST

    (c)

    SGST

    (d)

    Both (b) and (c)

  10. The Indian government accounts are maintained in _________

    (a)

    Three

    (b)

    Four

    (c)

    Five

    (d)

    Eight

  11. 6 x 2 = 12
  12. Define public finance.

  13. Differentiate tax and fee.

  14. Give two examples for direct tax.

  15. What are the components of GST?

  16. What do you mean by public debt?

  17. List the major types of budget deficits.

  18. 6 x 3 = 18
  19. Describe Canons of Taxation.

  20. What are the functions of a modern state?

  21. State any three characteristics of taxation.

  22. What is primary deficit?

  23. What is internal public debt?

  24. What are the demerits of Direct Taxes

  25. 2 x 5 = 10
  26. Explain the scope of public finance.

  27. Explain the principles of Federal Finance.

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