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Chapters
2: National Income
3: Theories of Employment and Income
4: Consumption and Investment Functions
5: Monetary Economics
6: Banking
7: International Economics
8: International Economic Organisations
▶ 9: Fiscal Economics
10: Environmental Economics
11: Economics of Development and Planning
12: Introduction to Statistical Methods and Econometrics
![Samacheer Kalvi solutions for Economics [English] Class 12 TN Board chapter 9 - Fiscal Economics - Shaalaa.com](/images/economics-english-class-12-tn-board_6:5f2b1b2038084cf381bfa42c826a928c.jpg "Samacheer Kalvi solutions for Economics [English] Class 12 TN Board chapter 9 - Fiscal Economics")
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Solutions for Chapter 9: Fiscal Economics
Below listed, you can find solutions for Chapter 9 of Tamil Nadu Board of Secondary Education Samacheer Kalvi for Economics [English] Class 12 TN Board.
Samacheer Kalvi solutions for Economics [English] Class 12 TN Board 9 Fiscal Economics Model Questions [Pages 208 - 211]
Part A - Multiple choice questions
The modem state is the______.
Laissez-faire state
Aristocratic state
Welfare state
Police state
One of the following is NOT a feature of private finance ______.
Balancing of income and expenditure
Secrecy
Saving some part of the income
Publicity
The tax possesses the following characteristics ______.
Compulsory
No quid pro quo
Failure to pay is offense
All the above
Which of the following canons of taxation was not listed by Adam smith?
Canon of equality
Canon of certainty
Canon of convenience
Canon of simplicity
Consider the following statements and identify the correct ones.
- The central government does not have exclusive power to impose a tax that is not mentioned in the state or concurrent list.
- The Constitution also provides for transferring certain tax revenues from union list to states
1 only
2 only
both
none
GST is an quivalence of ______.
Sales tax
Corporation tax
Income tax
Local tax
The direct tax has the following merits except for ______.
equity
convenient
certainty
civic consciousness
Which of the following is a direct tax?
Excise duty
Income tax
Customs duty
Service tax
Which of the following is not a tax under the Union list?
Personal Income Tax
Corporation Tax
Agricultural Income Tax
Excise duty
“Revenue Receipts” of the Government do not include ______.
Interest
Profits and dividends
Recoveries and loans
Rent from property
The difference between revenue expenditure and revenue receipts is a ______.
Revenue deficit
Fiscal deficit
Budget deficit
Primary deficit
The difference between total expenditure and total receipts including loans and other liabilities is called ______.
Fiscal deficit
Budget deficit
Primary deficit
Revenue deficit
The primary purpose of deficit financing is ______.
Economic development
Economic stability
Economic equality
Employment generation
Deficit budget means ______.
An excess of government’s revenue over expenditure
An excess of the government’s current expenditure over its current revenue
An excess of the government’s total expenditure over its total revenue
None of above
Methods of repayment of public debt are ______.
Conversion
Sinking fund
Funded debt
All these
Conversion of public debt means exchange of ______.
new bonds for the old ones
low-interest bonds for higher interest bonds
Long term bonds for short term bonds
All the above
The word budget has been derived from the French word “baguette” which means ______.
A small bag
An empty box
A box with papers
None of the above
Which one of the following deficits do not consider borrowing as a receipt?
Revenue deficit
Budgetary deficit
Fiscal deficit
Primary deficit
Finance Commission determines ______.
The finances of the Government of India
The resources transfer to the states
The resources transfer to the various departments
None of the above
Consider the following statements and identify the right ones.
- The finance commission is appointed by the President
- The tenure of the Finance Commission is five years
1 only
2 only
both
none
Part B - Two mark questions
Define public finance.
What is public revenue?
Differentiate tax and fee.
Write a short note on a zero-based budget.
Give two examples for direct tax.
What are the components of GST?
What do you mean by public debt?
Part C - Three mark questions
Describe canons of Taxation.
Mention any three similarities between public finance and private finance.
What are the functions of a modern state?
State any three characteristics of taxation.
Point out any three differences between direct tax and indirect tax.
What is the primary deficit?
Mention any three methods of redemption of public debt.
Part D - Five mark questions
Explain the scope of public finance.
Bring out the merits of indirect taxes over direct taxes.
Explain the methods of debt redemption.
State and explain instruments of fiscal policy.
Explain the principles of federal finance.
Describe the various types of deficit in the budget
What are the reasons for the recent growth in public expenditure?
Solutions for 9: Fiscal Economics
Samacheer Kalvi solutions for Economics [English] Class 12 TN Board chapter 9 - Fiscal Economics
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Concepts covered in Economics [English] Class 12 TN Board chapter 9 Fiscal Economics are Introduction to Fiscal Economics, Meaning of Public Finance, Subject Matter / Scope of Public Finance, Public Finance and Private Finance, Functions of Modern State, Public Expenditure, Tax Revenue, Public Debt, Budget, Federal Finance, History of Finance Commission, Local Finance.
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