Public Finance MCQs

recurrent expenditure refers to regular operating expenditure

progressive tax is the term that matches the description: a tax whose effective rate rises as the tax base increases

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

public debt is the term that matches the description: outstanding borrowing of government

capital budget refers to budgeting for long-term assets and development expenditure

tax revenue refers to government income raised through taxes

fiscal policy refers to government use of taxation and expenditure to influence the economy

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

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

budget refers to a financial plan of expected revenue and expenditure

appropriation refers to legal authority to spend public money for specified purposes

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