[Quiz] Economy - Public Finance

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1. Select the odd One
   
   1.  Value added Tax
   2. Income Tax
   3.  Excise Duties
   4.  Customs Duties
   
   
2. Which of the following is not a type of Revenue Expenditure
   
   1.  Subsidies
   2.  Defence
   3.  Permanent Assets
   4.  Pensions
   
   
3. A: Budget Deficit is the difference Between Total Expenditure and Total Receipts B: Primary Deficit is the Difference between Fiscal deficit and Interest Payments
   
   1.  Only A is Correct
   2.  Only B is Correct
   3.  Both  A and B are incorrect
   4.  Both A and B are correct
   
   
4. A: Surcharge is levied with specific Purpose  B: Cess is levied without specific purpose
   
   1.  Only A is Correct
   2.  Only B is Correct
   3.  Both  A and B are incorrect
   4.  Both  A and B are correct
   
   
5. Which of the following shows the relationship between the Tax rate and Tax Revenue
   
   1.  Laffer Curve
   2.  Lorrentz Curve
   3.  Philips Curve
   4.  None of the Above

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