(1) – (i) (2) – (ii) (3) – (iv) (4) – (iii)

(1) – (ii) (2) – (iii) (3) – (iv) (4) – (i)

(1) – (iv) (2) – (iii) (3) – (i) (4) – (ii)

(1) – (i) (2) – (ii) (3) – (iii) (4) – (iv)

indirect taxes

direct taxes

inelastic

value-added tax

Both A and R are true and R is the correct explanation of A

Both A and R are true but R is not the correct explanation of A

A is true but R is false

A is false but R is true

Sinking Fund

Surplus Budget

Terminal Annuities

Refunding

Change in prices

Elasticity of demand and supply

Nature of Demand

Income of the consumer

general property tax

taxes on land

profession tax

taxes on industries

Raising revenue for the state

To maintain economic stability

To remove disparities in the distribution of income

All of the above

6 years

1 year

5 years

3 years

Private sector

Agricultural sector

Public authorities

Industrial sector

Progressive

Regressive

Proportion

Digressive

Secondary

Primary

Tertiary

All of these

The Government

The Private

Expenditure

None of these

Fiscal policy

Fiscal economics

Federal finance

None of these

Treasury

Bills of payment

Bills of exchange

All the above

A small bag

An empty box

A box with papers

None of the above

Economic development

Economic stability

Economic equality

Employment generation

Revenue deficit

Fiscal deficit

Budget deficit

Primary deficit

Personal Income Tax

Corporation Tax

Agricultural Income Tax

Excise duty

equity

convenient

certainty

civic consciousness

Laissez-faire state

Aristocratic state

Welfare state

Police state