Public Economics Quiz

Hey there, Anika! If we take away the interest payments from the gross fiscal deficit, what do you think we end up with?

• revenue deficit

• gross primary deficit

• capital deficit

Hey Prisha and Viaan! Let's dive into the fascinating world of public expenditure! Can you tell me who the brilliant minds behind the concepts of displacement and concentration effect are?

• A.C. Pigou and J.K. Mehta

• Alan T. Peacock and Jack Wiseman

• Kenneth Arrow and Paul A. Samuelson

Hey there, students! Can you help Aanya, Naira, and Kavya figure out the order in which the following individuals were appointed as chairman of the Finance Commission? Let's see if you can get it right!

• K.C. Neogy

• K. Brahamanand Reddy

• N.K.P. Salve

• A.K. Chanda

Hey Eesha, Arnav, and Eshaan! Let's have some fun! Can you indicate the correct sequence of the following taxes in terms of their implementation?

• Income Tax

• Expenditure Tax

• Value Added Tax

• Fringe Benefits Tax

Hey Ria, Tisha, and Aanya! Let's dive into the world of federations! What do you think is the most important characteristic of a federation?

• Center’s Supremacy over States

• Non-correspondence between the functions and resources of the Center and State Governments.

• Perfect match between the functions and resources of the Central and State Governments.

Hey there, students! Can you help Vanya figure out who was the Chairman of the 11th Finance Commission of India? Here are the options:

• A M Khusro

• K C Pant

• Jaswant Singh

Hey Aanya, did you know that of the total revenue of the Union government, the indirect taxes account for nearly:

• 70%

• 75%

• 80%

Hey Akhil, Aanya, and Advait! Can you guess how often the Finance Commission is appointed? Let's find out!

• 3 years

• 5 years

• 6 years

Hey Ishika, Alisha, and Avani! Let's have some fun with this question: In India, what do you think is the principal source of revenue?

• Taxes and loans

• Grants from other countries

• Gains from government companies

Hey there, Shreya and Akhil! Let's dive into the world of economics! Fiscal policy refers to the policy of:

• Commercial banks

• Government finance

• Money authority