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Undergraduate-Level Public Finance Quiz

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1. What is the primary objective of public finance?

2. Which economic theory states that government intervention can stabilize the economy through fiscal policy?

3. What are public goods?

4. What term describes the situation where government spending exceeds government revenue?

5. Which of the following is a tool of fiscal policy?

6. How do progressive tax systems affect income distribution?

7. What is the economic rationale behind government provision of public goods?

8. What concept explains the reduction in individual incentive to contribute towards a public good as more individuals benefit from it without directly contributing to its cost?

9. How does a budget surplus affect the national economy?

10. Which principle of taxation states that taxes should be levied according to an individual's ability to pay?