M.A. (Semester III)(New) (CBCS) Examination, 2017
ECONOMICS
PUBLIC ECONOMICS Ii
Day Date: Tuesday, 18-04-2017 Max. Marks: 70
Time: 02.30 PM to 05.00 PM
N.B. All questions are compulsory.
Figures to the right indicate full marks.
Q.1 Choose the correct option: 14
The public finance is dealt with
State's Public Debt State's Public Revenue
State's Public Expenditure All the above
The principle of invisible Hand advocated by
Adam Smith David Ricardo J.B.Say Musgrave
According to principle every individual should pay according
to his ability.
Benefit Ability to pay Equity All of the above
The voluntary exchange model was given by
Wicksell and Lindal Keneth Arrow
Musgrave Dalton
Market failure can occur when
Monopoly power exists in the market Cost is decreasing
Externalities are there All of the above
starts from a "zero base" and every function within an
organization is analyzed for its needs and costs.
Revenue Budget Zero Budget
Annual Budget All of the above
Laffer curve is a theoretical representation of the relationship
between
Revenue raised by taxation and all possible rates of taxation.
Revenue raised by direct taxes and direct tax rates.
Revenue raised by indirect taxes and direct tax rates.
Expenditure of the government and all possible tax rates.
Private cost External cost.
Social cost Marginal cost
Average cost Total cost
The concept of 'Merit Good' is given by
Amartya Sen Musgrave Keynes Adam Smith
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10) Double taxation refers to
Taxation of the same earnings at two levels
Double taxation at two levels
Double taxation at one level
None of the above
11) has given three general principles of debt management.
Prof. Finlay Shiras Prof. Recardo
Prof. Dalton None of the above
12) According to impossible to find out community preferences
from ranked individual preference.
Kenneth Arrow Anthony Downs
Johnsson Karl Marx
13) Government plays a very important role in developing for the
optimum use of natural resources in the country.
Private sector Public sector
Tertiary sector All of the above
14) According to Prof. Dalton is the sacrifice of economic welfare
which has to be made by the tax payer as a result of the payment
of tax.
Direct money burden Indirect money burden
Direct real burden Indirect real burden
Q.2 Write short notes: (any four) 12
Public goods
The concentration theory of tax
Social Cost
Market failure
Shifting of tax
Q.3 Write short notes: (any four) 16
Elaborate the role of government in mixed economy.
Explain the various the concept of incidence of tax.
Explain Wagner's law of increasing state activities.
Explain the role of finance of commission in tax devolution.
Explain the concept of excess burden of taxation.
Q.4 Answer in detail: (any two) 14
Explain the principles of taxation.
Explain the classical view about government function
Explain the brief the Laffer Curve.
Q.5 Explain the various criteria's of public investment. 14
OR
Explain the role of government in mixed economy.