Taxation, Expenditure and Public Debt - Public Economics - Economics Previous Year Questions

1

2021 · Economics · Public Economics · Taxation, Expenditure and Public Debt

Humanities & Social Sciences-Economics (XH-C1) 2021

Consider a competitive market where the demand and supply functions are given by \(q^D = 12 - 2P\) and \(q^S = 4P\), respectively. The tax rate per unit of output that maximizes the tax yield (revenue) is ____________ (in integer).

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2

2022 · Economics · Public Economics · Taxation, Expenditure and Public Debt

Humanities & Social Sciences-Economics (XH-C1) 2022

The curve that explains the relationship between tax rate and tax revenue is known as:

A

Laffer curve

B

Engle curve

C

Beveridge curve

D

Phillips curve

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3

2023 · Economics · Public Economics · Taxation, Expenditure and Public Debt

Humanities & Social Sciences-Economics (XH-C1) 2023

Among the following, who first proposed that internal government debt does not create a burden for the future generation?

A

N. Gregory Mankiw

B

Martin Feldstein

C

Harvey S. Rosen

D

P. Lerner

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4

2023 · Economics · Public Economics · Taxation, Expenditure and Public Debt

Humanities & Social Sciences-Economics (XH-C1) 2023

Which of the following is an example of direct tax?

A

Sales tax

B

Customs duty

C

Individual income tax

D

Excise tax

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5

2023 · Economics · Public Economics · Taxation, Expenditure and Public Debt

Humanities & Social Sciences-Economics (XH-C1) 2023

An income tax system is considered as progressive if the average tax rate rises with income. Consider an income tax schedule: \( T = p + t Y \), where \( T \) denotes the tax liability, \( p \) is a constant, \( t \) is the constant marginal tax rate, and \( Y \) is the income. For this tax schedule to be progressive, the value of \( p \)

A

must be positive

B

must be negative

C

must be zero

D

can be any value except zero

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6

2024 · Economics · Public Economics · Taxation, Expenditure and Public Debt

Humanities & Social Sciences-Economics (XH-C1) 2024

Which one of the following is NOT a source of finance of the Government of India?

A

Land revenue

B

Income tax

C

Corporate tax

D

Import duty

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7

2025 · Economics · Public Economics · Taxation, Expenditure and Public Debt

Humanities & Social Sciences-Economics (XH-C1) 2025

Transfer payments by governments are viewed as

A

Negative taxes

B

Indirect taxes

C

Non-tax revenues

D

Transfer of wealth

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