Public Finance MCQs

recurrent expenditure is the term that matches the description: regular operating expenditure

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

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

budget deficit refers to the amount by which expenditure exceeds revenue

public debt refers to outstanding borrowing of government

progressive tax refers to a tax whose effective rate rises as the tax base increases

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

recurrent expenditure refers to regular operating expenditure

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

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

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

budget refers to a financial plan of expected revenue and expenditure