Public Finance MCQs

subsidy refers to financial support intended to reduce cost or encourage an activity

public expenditure is the term that matches the description: spending by government and public bodies

fiscal policy is the term that matches the description: government use of taxation and expenditure to influence the economy

budget is the term that matches the description: a financial plan of expected revenue and expenditure

non-tax revenue refers to government income from sources other than taxes

budget surplus refers to the amount by which revenue exceeds expenditure

budget deficit is the term that matches the description: the amount by which expenditure exceeds revenue

public debt refers to outstanding borrowing of government

appropriation is the term that matches the description: legal authority to spend public money for specified purposes

direct tax refers to a tax imposed directly on income, wealth or profits

budget deficit is the term that matches the description: the amount by which expenditure exceeds revenue

non-tax revenue is the term that matches the description: government income from sources other than taxes