Dibrugarh University Question Paper - Economics - (Public Economics) – Arts (Nov'2019)

2019

(November)

ECONOMICS

(General)

Course: 301

(Public Economics)

Full Marks: 80

Pass Marks: 32/24

Time: 3 hours

The figures in the margin indicate full marks for the questions

1. Choose the correct answer/Answer the following:                                                      1x8=8

a)         According to Dalton, social advantage will be maximum, when

1)         MSS > MSB.

2)         MSS < MSB.

3)         Mss = MSB.

4)         ASB = ASS.

b)         Mention one difference between public finance and private finance.

c)          Mention one canon of taxation.

d)         Mention two reasons for the growth of public expenditure in developing countries.

e)         Write two limitations of fiscal policy.

f)          Mention one method of repayment of public debt.

g)         What do you mean by deficit financing?

h)         Who is the Chairman of India’s Fifteenth Finance Commission?

2. Write short notes on any four of the following (within 150 words each):            4x4=16

a)         Characteristics of public goods.

b)         Objectives of taxation in developing country.

c)          Effects of public expenditure on level of employment.

d)         Growth of public debt in India.

e)         Defects of Indian tax system.

Answer the following questions (within 500 words each):

3. (a) Discuss the role of public finance in developing economy.                            11

Or

(b) Explain the principle of maximum social advantage with diagrams. What are its limitations?  8+3=11

4. (a) Explain the effects of taxation on production and distribution.                        11

Or

(b) What do you understand by incidence of tax? Explain with diagrams, how incidence of a tax is distributed between the buyers and the sellers.                                       2+9=11

5. (a) What are the main objectives of public expenditure? Give reasons for the rapid increase in public expenditure in modern State.                                     6+6=12

Or

(b) Explain the various methods of repayment of public debt.                                     12

6. (a) Describe the main elements of government budget. Define revenue deficit, fiscal deficit and primary deficit. 5+6=11

Or

(b) How does fiscal policy help in attaining the objectives of economic growth and price stabilization? 11

7. (a) Describe the recommendations of the latest Finance Commission of India.     11

Or

(b) Write the principles of the devolution of financial resources in Indian Federal Finance System.  11

 

***