File Details:

Questions:

1. Explain the importance of public finance.
2. What are mixed goods?
3. Define cost-benefit analysis.
4. Discuss the concept of public goods.
5. What are merit goods?
6. Explain the displacement, inspection, and concentration effects of Peacock and Wiseman's model of the public sector.
7. Discuss the various canons of public expenditure. How far are these canons obeyed in practice?
8. Differentiate between the impact and incidence of tax. Discuss the incidence of a tax under the market conditions of perfect competition.
9. Clarify the statement: 'The incidence of a tax imposed on any object is divided between the buyers and the sellers in the proportion of the elasticity of supply and elasticity of demand of the object.'
10. What do you mean by the burden of public debt? Provide a brief account of various methods of debt redemption.
11. Outline the different sources of public debt. What are the important effects of public debt on the economy?