Public Finance MCQs

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

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

indirect tax refers to a tax imposed on transactions, goods or services

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

indirect tax is the term that matches the description: a tax imposed on transactions, goods or services

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

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

budget deficit refers to the amount by which expenditure exceeds revenue

public debt refers to outstanding borrowing of government

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

subsidy is the term that matches the description: financial support intended to reduce cost or encourage an activity